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It is estimated that the demand for stainless steel in August will be 2.88 million tons, an increase of 85,000 tons ( 3.04%) compared to July. Read Stainless Insights in China now...
Are you ready for the Games? We hope this summer event can relieve the whole world from conflicts and intense. The world needs happiness and reunions to go through some dilemmas. T...
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...
2024-07
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 meaningful for making a good decision. You are free to keep reading the full report, Stainless Steel Market Summary in China, and contact us for the most immediate quotation. Last week, stainless steel prices slightly fluctuated to rise. However, the increase did not fix the loss of stainless steel mills. It is said that stain
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 slightly because China's domestic demand remained weak, resulting in the steel mills losing profit. Although stainless steel futures price increased for 5 days in a row, stock prices did not recover. The small reduction last week in the inventory at least released the stress of stock overload. As for the ore side, t
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
