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Nickel Price keep increasing strong recently and the stainless steel pipe keep strong

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Nickel Price keep increasing strong recently and the stainless steel pipe keep strong

Issue Time:2020-05-21
According to the announcement on May 18th from Tsinghan Holding Group Co., Ltd, the largest stainless steel provider in the world, it decided to increase its stainless steel prices for June, with a range of RMB 300/ton on 304 series hot-rolled stainless steel plate, came to around RMB 13,100/ton; 304 series cold-rolled stainless steel sheet also increased by RMB 300/ton in June, came to around RMB 13,400/ton.

Currently, the stainless steel prices were seemed to keep strong, mainly caused by the increasing nickel price and stainless steel scrap price, both pushed the cost to increase, plus the supply was not resumed fully to the pre-COVID-19 level.

In conclusion, the market believed the stainless steel prices might further increase at least until June.
stainless steel price