China’s stainless steel market supported by higher raw material prices
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Update time : 2022-10-17 17:20:07
China’s stainless steel production exceeded expectations in September, but the consumption was also high due to stock preparation before the holidays.
It was understood from market participants that the order taking has improved since last Wednesday. The continuous increase in raw material prices also supported stainless steel prices.
In terms of ferrochrome supply, the impact of the strike in South Africa was expected to continue until November. Due to the expected tight supply, China’s chrome ore traders foresaw rising prices.
On balance, the recent market orders have improved, and the prices of stainless steel raw materials kept rising, supporting stainless steel prices. The short-term stainless steel spot prices would be relatively stable.
