Chinese stainless steel exports give way to Indonesia amid export tariff jitters

China’s stainless steel export market was inactive in the week to Wednesday June 9 amid concerns over the possibility of an export tariff being introduced in the country. Meanwhile, Indonesian suppliers took the opportunity to gain more orders.

But the quieter market did not down export offers for Chinese stainless steel because China’s domestic market remained strong, with prices narrowing upward from the preceding week.
Stainless steel cold-rolled coil 2mm grade 304 domestic (Wuxi): 16,400-17,100 ($2,565-2,675) per tonne, narrowed upward by 200 yuan per tonne
Gains experienced by nickel futures on the London Metal Exchange and the Shanghai Futures Exchange from Tuesday to Wednesday stimulated buying interest in China’s domestic stainless steel market.

The three-month nickel contract on the LME ended the official trading session on Wednesday at $18,117 per tonne, up by $453 per...


Jessica Zong

June 10, 2021

04:56 GMT