Since the first stainless steel futures were planned to be launched in China on September 25th, the market was staring at the impact of this milestone.

As China was the largest steel producer in the world, the new stainless steel futures might increase the impact power of the Chinese mills, and it was also expected to bring a more transparent and fair price to the market.

Recently, stainless steel’s price was hard to relate to the material price, such as the high nickel price in these few weeks. However, it did not show the same amplitude in the stainless steel product price, which increased the operation risk for the trader and downstream.