Stainless steel cost remains high, supporting price to stay strong


According to the market views, the current output of ferronickel in China remained the decreasing trend, which caused the raw material’s prices to increase steadily.

Based on that, the stainless steel prices faced strong support, also benefited by the low inventory level recently. By the market expectation, the stainless steel consumption demand from downstream would increase after the Chinese New Year’s vacation.

Moreover, the epidemic uncertainty factors in the Philippines and Indonesia also threatened nickel’s future supply, which would need to pay attention to continuously in the future.