Nickel prices will continue to rise next year
Although stainless steel prices rally, due to the ferrochrome price continued upward trend.
However, nickel price is still affecting steel prices and market trends. It approaches the end of the year, nickel prices expect to rise again next year, due to supply shortage.
This year, with new stainless steel production released from mills, Chinese stainless steel production totaled 24.37 million tons this year, increased by 13% compared with the same period last year.
However, stainless steel production increased significantly will further improve the global nickel consumption next year.