China’s 400 series stainless steel forecasted to maintain at high side
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Update time : 2023-08-11 19:55:09
At the beginning of August, parts of China’s steel mills announced to cut their production or put it under maintenance. Regarding the cost of 400 series steel, because high carbon ferrochrome prices kept increasing, it supported the price.
In terms of domestic demand for the 400 series, the social inventory fluctuated narrowly, and the situation of stockpiling was not obvious. Regarding foreign markets, because of global inflation, the markets in Europe and North America were still under pressure. Besides, July and August were the off-peak seasons; enterprises started to consume the inventory instead of replenishment.
In conclusion, the supply of 400 series was expected to decrease compared to the previous month. The demand would keep stable, and the cost would go up. The 400 series stainless steel price in August was forecasted to maintain on high side.
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