China’s stainless steel price continues to increase last week
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Update time : 2025-01-21 17:39:51
Stainless steel prices in China continued to rise last week, supported by stronger futures and positive market sentiment. However, as the Lunar New Year approaches, demand remains weak, and short-term pressure continues.
The stainless steel market rebounded for the second consecutive week after reaching a four-year low, driven by factors such as Indonesia's nickel mining policy, expected US interest rate cuts, and China's 5% GDP growth last year. Additionally, the IMF's upward revised global economic growth to 3.3% for 2025 also boosted market confidence.
Despite a slight decline in stainless steel inventories, market activity is slowing as downstream enterprises are going to enter the holiday period, keeping overall demand limited.
China’s December aluminium production grows 4.2%, leading to 2024 output to 1 million tonnes shy of the production cap
