The stainless steel market in China has seen a weaker trade volume in the past week, mainly because downstream buyers have begun to wait and see amid the downward movement of nickel prices, while there is also a lack of confidence due to the general economic uncertainty. Many traders are very cautious about concluding deals for stainless steel, reducing their orders from steel mills and focusing on keeping their inventories at low levels. Stainless steel mills are also under pressure due to weakening demand and high costs. Observers state that the trend of the domestic stainless steel market will still depend on nickel prices but that the market may continue to soften in the current uncertain economic climate.
China’s stainless market declines due to weaker nickel prices and soft demand
Global nickel prices have fluctuated in a slight downward direction during the past week. On April 24, the three-month nickel price at the London Metal Exchange (LME) closed at $17,490/mt, while LME nickel inventory on the same date totaled 99,798 mt. Stainless steel prices in China can be viewed in the SteelOrbis price reports section.
Marketplace Offers
Hot Drawn Stainless Plate
Thickness
2 - 6 mm
Width
1,000 - 1,500 mm
Length
2,000 - 6,000 mm
Tedarikçi
MAIAK-M
Cold Drawn Stainless Plate
Thickness
0.5 - 3 mm
Width
1,000 - 1,250 mm
Length
2,000 - 2,500 mm
Tedarikçi
MAIAK-M
Hot Drawn Stainless Coil
Thickness
0.45 - 1.45 mm
Width
0 mm
Coil
R
Tedarikçi
SAMBHV SPONGE POWER LIMITED