SteelOrbis has been informed that as of May 25 ex-China stainless steel coil export prices are at $2,700-2,750/mt FOB, moving down by $50/mt compared to May 18.
During the given week, local stainless steel prices from Shanxi Province-based Chinese steelmaker Taigang Stainless Steel Co., Ltd have decreased by RMB 350/mt ($54.4/mt).
Nickel prices at the London Metal Exchange (LME) have edged down in the given week.
During the week in question, stainless steel futures prices have indicated big declines amid the central government’s measures to curb the rapid rises in commodity prices. In the local market, prices of 200 series stainless steel products have indicated bigger declines than 300 series products.
Stainless steel futures at the Shanghai Future Exchange closed at RMB 14,920/mt ($2,321/mt) on Tuesday, May 25, decreasing by RMB 725/mt ($113/mt) or 4.6 percent compared to RMB 14,920/mt on May 18.
$1 = RMB 6.4283