SteelOrbis has been informed that as of December 10 ex-China stainless steel coil export prices are at $2,200-2,250/mt FOB, remaining stable compared to December 3.
During the given week, local stainless steel prices from Shanxi Province-based Chinese steelmaker Taigang Stainless Steel Co., Ltd have remained unchanged.
During the given week, nickel prices have fluctuated within a limited range. Due to the traditional offseason, cautious sentiments have prevailed among players in the Chinese domestic stainless steel market. Since China has stated it will implement a “moderately loose” monetary policy in 2025, changing its monetary policy stance for the first time since 2011, market players are expecting a better performance in the stainless steel market. It is thought that stainless steel prices in the Chinese market may rise slightly in the coming week.
Stainless steel futures at the Shanghai Future Exchange closed at RMB 13,040/mt ($1,817/mt) on Tuesday, December 10, decreasing by RMB 25/mt ($3.4/mt) or 0.2 percent compared to December 3, while up 0.69 percent compared to the previous trading day, December 9.
$1 = RMB 7.1896