China’s stainless steel market sees sideways movement

Thursday, 12 January 2012 17:36:07 (GMT+2)   -  


Global nickel prices have risen slightly in the past week. On January 11, the three-month nickel price at the London Metal Exchange (LME) closed at $19,480/mt, while inventory at the LME was 92,538 mt.

 

The stainless steel market in China has been mostly stable in the past week. Local stainless steel prices in China can be viewed in the SteelOrbis price reports section.

Due to the number of holidays in China in January, the volume of stainless steel orders in the month has decreased. Meanwhile, most players in the market are expected make an early start to the Spring Festival holiday, exiting the market around January 15. Observers believe that China's stainless steel market will maintain its stable trend in the coming period amid the current slackness of activity in the market and the low levels of stocks. 

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