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Recent Fluctuations in China's Stainless Steel Market: Price Rises May Rely on Futures Surge —— Jan 12

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Recent Fluctuations in China's Stainless Steel Market: Price Rises May Rely on Futures Surge —— Jan 12

Yesterday, the Chinese stainless steel market experienced certain price fluctuations, the reasons for which remain unclear. The market generally reports difficulty in transactions following price increases, with steel mills maintaining stable order prices and a rise in market inventory. Despite the strong call for price hikes, actual transactions have not been ideal, with businesses primarily focusing on spot goods.

This recent price increase seems to be largely driven by a significant rise in the front-end futures market, offering an opportunity. As the year-end approaches, whether the stainless steel prices can maintain stability and achieve an increase remains to be seen.

Additionally, the market continues to focus on the potential slowdown in the Federal Reserve's balance sheet reduction. The Fed is expected to discuss this in the third quarter of this year, with implementation possibly beginning in early fourth quarter. Global CEOs widely regard economic recession and inflation as the primary concerns for businesses this year. A weakening dollar expectation seems to somewhat support commodity prices.

However, the sudden rise in domestic stainless steel and nickel prices has left the market puzzled. Although there is news regarding Indonesian presidential candidates' pledge to halt new nickel smelter construction, it doesn't seem to fully explain the current market dynamics. Overall, the market is in a wait-and-see mode, still exploring the real reasons behind the price increase.



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