Increased cost pressure and low demand in local Chinese stainless steel market

Thursday, 27 March 2014 16:26:58 (GMT+3)   |   Shanghai
       

China's domestic stainless steel market has followed a sideways trend during the past week.
 
Global nickel prices have continued to fluctuate at elevated levels and are higher than they were one week ago. On March 25, the three-month nickel price at the London Metal Exchange (LME) closed at $16,045/mt, while LME nickel inventory on the same date totaled 283,632 mt.
 
Although higher nickel prices have increased the cost pressure on Chinese stainless steel mills, domestic stainless steel prices have not indicated any change during the past week due to low demand on the downstream side. Some traders are trying to sell as much stainless material as possible at a time when nickel prices are strong. However, no great improvement has been seen in overall trading activity. For the coming week, it is thought that Chinese domestic stainless steel prices will remain on a stable trend.

Similar articles

Flat steel prices in local Taiwanese market - week 13, 2024

28 Mar | Flats and Slab

Flat steel prices in local Taiwanese market - week 12, 2024

21 Mar | Flats and Slab

Flat steel prices in local Taiwanese market - week 11, 2024

14 Mar | Flats and Slab

Flat steel prices in local Taiwanese market - week 10, 2024

07 Mar | Flats and Slab

Flat steel prices in local Taiwanese market - week 9, 2024

29 Feb | Flats and Slab

Flat steel prices in local Taiwanese market - week 8, 2024

22 Feb | Flats and Slab

Flat steel prices in local Taiwanese market - week 6, 2024

08 Feb | Flats and Slab

Flat steel prices in local Taiwanese market - week 5, 2024

01 Feb | Flats and Slab

Flat steel prices in local Taiwanese market - week 4, 2024

25 Jan | Flats and Slab

Flat steel prices in local Taiwanese market - week 2, 2024

11 Jan | Flats and Slab