Asia’s stainless steel base price up last week
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Update time : 2023-08-09 20:03:32
The base price of 304 stainless steel cold-rolled coil in Asia rose last week due to rising nickel prices and stronger market sentiment.
The nickel price was higher than expected in July, which raised production costs. In addition, China’s proposed policy is likely to support consumer spending and the real estate industry, thereby boosting economic growth. Therefore, stainless steel prices were upheld by these factors.
However, the overall demand is not strong enough, with concerns of oversupply. The increase in price would be limited.
