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What a dramatic and convulsive week. The US Election catches all eyes for sure. Last week, the stainless steel futures market fluctuated to drop and spot transactions were insuffic...
In the rest days of 2024, we will witness a great change in the reshaping of political powers. Stainless steel is never an exception. Keep updated with the fluctuations is meaningf...
From June 24th to 28th, the last week of the first half of 2024, the stainless steel demand-supply relation improved as inventory declined. Stainless steel average prices dropped s...
2024-06
Turkey was the biggest buyer of Chinese stainless steel material in May. Last week, stainless steel prices declined because of the weak demand persisted. When the good news such as Beijing's economic stimulus and increasing LME nickel price gradually faded, the stainless steel prices lost a force to increase. Plus the Chinese domestic market, it is now in the slack season. In May, China's apparent consumption of stainless steel was reduced by 198,800 tons from last month. Whereas, the ex
Last week, stainless steel prices went weak. Non-ferrous metals declined in price in the global market, and meanwhile, China's bullish news has settled down, leading to the drop of Stainless steel futures, decreasing by US$43/MT and spots followed to decline. Demand actually has remained sluggish. As the production of stainless steel is large, the inventory keeps rising. It is worrying. Moreover, it is reported that Indonesian nickel ore used in stainless steel production will be exhausted i
Stainless steel futures and spot prices declined last week, because of the macroeconomic concerns. Besides, during the previous time when the stainless steel price tended to rise, steel mills expanded the production, which is gradually flowing to the market and thereby the spot inventory stacked. The new arrivals will continue to add up the inventory, suppressing the prices. In May, the output of the stainless steel 300 series hits a record high, reaching 1.81 million tons. For June, steel mills
China's Manufacturing PMI of May (49.5%) fell back to the contraction zone after two months above the threshold. The performance of export contributed a great part to the economic expansion in 2024. However, in May, the new export order index sharply dropped by 2.3%, indicating the shrinking global demand for Chinese manufacturing. Meanwhile, raw material price and EXW price index both increased, which were also in line with the situation of the stainless steel industry. Lately, the ore prod
2024-04
Stainless steel prices are on a rollercoaster! They surged last week, fueled by good economic news and rising nickel costs. But hold on, some experts are worried this rally might run out of steam soon due to high prices and weak demand. Prices for the most popular 300 series stainless steel jumped, but stockpiles are growing fast. This is because factories are pumping out a lot of metal, and not enough people are buying it right now. The 200 series is in a similar boat, with prices staying flat
2024-05
Last Friday, a bomb ignited the stock market. Beijing finally responded to the gloomy real estate industry with a series of historically boosting policies. Stocks rose instantly and so as the stainless steel prices because people saw the chances once the government started to buy the wait-for-sale houses which are stagnating in the market. Stainless steel prices went up last Friday and the increasing tendency lasts till now (May 23), when the steel mills just now increased the opening price and
