Sales of domestic home appliances bring strong demand for stainless steel in China
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Update time : 2020-11-11 17:04:37
According to the latest China's sales analysis of four major home appliances, including air conditioners, television, refrigerators, and washing machines, the production and sales in August of this year had increased by 14.81% and 11.55% from the same period last year. The production and sales in September had increased by 10.62% and 9.57% year on year respectively.
Following the above data, it was estimated that the total demand for stainless steel for those four major home appliances in September was 198,600 tons, which increased by 1.27% from the previous month and increased by 14.43% compared with the same period of last year.
It was true that September and October were the traditional peak season for sales. With the help of the golden week, those China's manufacturers had produced in advance for inventories, which would support the demand for stainless steel.
However, due to the impact of COVID-19, it was expected that the stainless steel demand would be slightly reduced in November after the peak seasons ended.
However, some insiders considered that the demand for stainless steel might continue to rise still in November because of the news about the development of the coming vaccine.
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