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Industry dynamics

Stainless steel price at a transitional stage
  • 2017-02-01

This is Cong Shine (Shanghai) metal material co.,ltd . Regard to stainless steel price 2017 let us share our point with you. Up to now global stainless steel prices are at across roads. Transaction values in January were to peak in a variety of different market in the world.

The LME nickel price peaked in mid-May 2016, at around US$21,000 per tonne.Consequently values have fallen back since then. Now nickel is fluctuating between $18,000 and $19,000 per tonne currently.

According to an alloy surcharge system data, effective prices are considerably higher than they were last year due to raw material costs in Europe and North America. In China market,selling values responded more quickly due to mill input costs increasing.

In past months purchasing activity was also increasing. It may be supported by improving underlying demand or it could be driven by stock replenishment and technical buying during a period of rising prices. Producers from many countries caught this positive signs to support basis price increases. But it doesnot include the soaring alloy extras. Some mills get ready for further increments in February.

According to our many years experence, as the one leader of stainless steel industry Cong Shine (Shanghai) metal material co.,ltd thinks the stainless steel price like 316 stainless steel sheet will keep stable in 2017 .Customers are less likely to make speculative purchases as the price trend levels out. Furthermore, stock building has been completed and business activity will slow in many parts of the world during the summer holiday.By the then , suppliers will find it difficult to achieve further basis price increases in the short term. We forecast the reversal will occur in July 2017for nickel costs.

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