Research

Forecasts and market analysis based on price assessments from Fastmarkets MB and Fastmarkets AMM

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January 2019 | Ferro-alloys


Chinese stainless steel market lacks fundamental support: Stainless Steel Highlights


The Chinese stainless market has been pressured by surging inventories at ports throughout most of Q4 2018 with a plunge in December insufficient to push prices upwards.

Improvement in nickel prices together with stainless mills reducing output due to maintenance work, has helped to prevent further stainless steel price declines. Despite a lack of demand, stainless steel spot prices have shown greater resilience with Fastmarkets MB’s price assessment for benchmark 304 stainless cold-rolled coil in the major market of Wuxi staying stable at last week’s levels of 14,200-14,800 yuan ($2,100-2,188) per tonne including value-added tax for the week ended Wednesday January 16. In fact, prices have been at status quo position for past six consecutive weeks reflecting weak market fundamentals. Reports suggest that...

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