China’s stainless steel market growth driven by rising ferronickel prices
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Update time : 2025-02-20 17:15:02
Although the stainless steel market was affected by Trump's tariff adjustment this week, buyers remained a wait-and-see attitude and the overall market hasn’t shown a significant increase. After the price fell last week, the Chinese market had mixed gains and losses this week, of which nickel pig iron prices rose significantly.
The adjustment of US tariffs and its potential support of steel mills' March prices led to some selling prices rising, with an increase of around NT$500. The price of steel coil products was more obvious than that of cut-to-length plates.
Due to the positive effects of steel production cuts and the rebound in futures prices in China, China's ferronickel prices have risen, driving the stainless steel market to stop falling, but whether it can continue remains to be seen.
