current overseasurhaibingoThe supply disturbance of nickel ore in Indonesia and the disturbance of the Singka incident in France have been around for a long time. The market has gradually absorbed the hype caused by the incident, and now it is more of a price support role. The high nickel ore has strengthened the cost side of ferronickel and tightened the supply side, which has limited ferronickel prices to a high level, supporting the overall price of stainless steel, but there is insufficient motivation to continue to make it strong.
The current focus of the market is on the recovery progress of downstream demand. Although many places have successively opened up purchase restrictions and government support funds, the recovery of downstream demand for real estate is still not as strong as expected; the weakening of weekly steel demand last week is a relatively objective reflection. The weakening data instantly drove stainless steel prices to fall rapidly, but better downstream steel continues to be removed from warehouses, and nickel prices have also begun to stabilize. Therefore, at present, spot merchants are mainly waiting and waiting for further feedback from downstream demand. Short-term support for stainless steel prices still exists, and it is expected to increase mainly slightly within the day.
Yangtze River Nonferrous Metal Network cjysurhaibingo.cn Tel: 0592-5668838