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Duty on Chinese goods, do you think that is good to you? Contradictions in both economic and political environments are intensifying when the election is getting closer. Global tra...
Will Xi's trip to Europe call back the investment faith in China? After Labor Day, five peaceful rest days, the stainless steel market in China could not wait to get back. On M...
Elon's trip to China seems to gain a lot. Will Tesla's super factory in Shanghai bring some confidence to foreign investment in China? As Beijing is getting comparatively e...
2024-04
How does it feel witnessing the rare strong increase in stainless steel prices? From the ore end, LME nickel still processes a great effect on the stainless steel price trend. Rumor has it that China is going to buy the raw material in large quantities and store it for the state. This led to speculation that nickel could become scarce overall. LME Nickel Hits 7-Month High, pushing up the stainless steel futures and spots prices to grow. Besides, from the p
According to the World Stainless Steel Association (ISSF), global stainless steel production increased by 4.6% to 58.444 million tons in 2023. However, unlike China, all other major regions experienced varying degrees of decline in production. China's stainless steel production, on the other hand, defied the global trend and grew by 10.4% to 37.48 million tons in 2023. In other words, global stainless steel production rose in 2023 due to China's significant growth. However, production in
Yellen spoke about overcapacity in China's green energy industries and long before her speech, Beijing had noticed the oversupply problem in the steel industry. On April 3rd, Beijing announced that the regulation on steel production will continue in 2024. This news led to an increase in stainless steel prices after the Qingming holiday, on April 7. The spot price of stainless steel 304 was partially raised by US$42/MT. In 2021 and 2022, Beijing ordered the steel sector not to increase
China's manufacturing PMI in March difficultly bounced back above 50% after consecutive 5 months under the threshold. Last week, from March 25th to 29th, the Chinese stainless steel market was sluggish and the weekly average prices of all major grades of 300 and 200 series declined. 400 series maintained stably as usual. The main contract price hit a low of US$1965/MT during last Friday night trading, breaking the previous low. With insufficient confidence from end-users and only essen
2024-03
The stainless steel market lost control when the regulation on price went loose. Similar to the chaotic world currently. Only prices of the stainless steel 400 series maintained steadily last week. 200 and 300 series both headed down because of higher inventory and a policy change. The market was shaken last Wednesday morning when news broke that Tsingshan would be relaxing price controls on cold-rolled 201J2 products. This led to a wave of price cuts by traders, and downstream customers adopted
Elon’s huge stainless steel bucket successfully launched out. Starship is made of stainless steel, as Tesla describes. Starship is the largest rocket. Stainless steel is an economical material to attain such a volume. But last week, the stainless steel market did not rocket as high as the starship. The stainless steel market met Waterloo because steel mills are expanding the production. The price of four-foot cold-rolled stainless steel 304 was reduced by US$35/MT, to US$1990/MT. Tsingshan
