Stainless steel price in Chinese market recovering
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Update time : 2025-01-15 21:03:19
Although the LME nickel price continued to recover, buying sentiment in the Taiwan market was slow before the Lunar New Year. However, the Chinese market was driven by macro policies.
Recently, futures prices and offers from steel mills have been increasing, boosting market transactions. In addition, rumors that Indonesia planned to regulate nickel mining volume have affected LME Nickel price. Market participants analyzed that as Indonesia controls nickel mine capacity and China's macroeconomic policies are gradually digested, prices in both futures and spot markets will return to stability.
Most downstream customers have also finished purchases before the long holiday, and subsequent buying momentum remains to be seen.
On the other hand, Taiwan's circulation market is weak, and price competition from Vietnam's stainless steel cold-rolled coil has caused the current market situation even more sluggish.
The main theme of domestic favourable macro front remains unchanged, SHFE aluminium prices showed a ‘v-shaped’ rebound today
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