Stainless steel prices may pick up in Dec

Stainless steel prices may pick up in Dec

It is reported that stainless steel prices will pick up in December because LME nickel prices has been stopped declining.

China’s stainless steel mills have been replenished inventories of nickel ore from Philippines since Indonesia set a ban on nickel ore export in January.

However, the coming rain season during November to January in Philippines is shortening nickel ore export and making the output of China’s nickel pig iron mills getting tighten.

Currently nickel prices were at US$16,535/ton and some Chinese stainless steel mills have raised their stainless steel cold-rolled coil by US$100/ton.

Above reasons will stir stainless steel prices going up in December, but it still needs to be noticed that market demand remains relatively weak.

Source: www.yieh.com

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