French Eramet expects stable stainless steel production & nickel demand
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Update time : 2020-10-30 17:03:55
According to Eramet, a French multinational mining and metallurgy company, due to various economic recovery plans, especially in China, global stainless steel production and demand for nickel were expected to remain stable in the coming months. However, the market and price environment remained particularly uncertain and volatile because of the global crisis.
The stainless steel industry, which accounts for two-thirds of the world's nickel demand, is experiencing a historic shock in 2020. In the first nine months of this year, global production fell by 7.6% year on year to 35.9 million tons.
Stimulated by government stimulus in infrastructure, transport, and construction, China accounts for nearly 65 percent of global output, up by 6.9% year on year in the third quarter. However, over the same period, the rest of the world saw a sharp decline of 14.2%.
