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China's stainless steel prices to soar beyond expectation-The 19th China(Guangzhou)Int'l Stainless Steel Industry Exhibition
7/25/2017 Stainless Steel Exhibition |
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In July 2017, China¡¯s stainless steel market has successfully enlarged its profit scale, and steel mills¡¯profit surged to RMB1,000/ton. Therefore, China¡¯s steelmakers received more orders of July and August, with a monthly output expectation of 2 million tons. After the continuous dropping for last three months, China¡¯s stainless steel prices finally started climbing in June.
However, since LME nickel price increased dramatically last Friday, and steel mills suspended to sell out one after another, China¡¯s stainless steel prices started a new wave of price increase. TISCO, for example, increased RMB600/ton for their 304 CR products, closing at RMB14,900/ton on July 15th.
Besides, other related steel mills increased from RMB200/ton to RMB500/ton respectively. On July 14th, some big steel distributors were still underselling products, and traders were reluctant to buy, but the crazy LME nickel price pushed up China¡¯s stainless steel price immediately.
Now, most private-owned steel mills have achieved their maximum capacity for August, and the future orders are arranged at late August or early September.
-The 19th China(Guangzhou)Int''l Stainless Steel Industry Exhibition
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