Festival & monetary policy expected to boost China's stainless steel market even though current challenges
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Update time : 2024-09-18 15:44:39
In 2024, China's stainless steel market experienced considerable volatility. Despite persistent supply and demand imbalances in the latter half of the year, the upcoming Mid-Autumn Festival and National Day holidays, along with anticipated interest rate cuts, are influencing market dynamics. Demand remains sluggish while supply levels stay high, creating additional market pressure. However, rising nickel ore prices and low production profits are offering some support for prices.
Looking forward, the market faces ongoing uncertainties with elevated production and weak demand, particularly in the machinery sector. While demand from home appliances and transportation sectors is relatively positive, machinery and other downstream areas continue to underperform.
Nevertheless, potential boosts from the upcoming festivals and supportive monetary policies may stimulate market activity and investment. As a result, the stainless steel market may exhibit cautious optimism despite the current supply-demand challenges.
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