Chinese stainless steel market supported by rising nickel price
17 May 2019 13:58 reported by Joy Liu
The escalation of the US-China trade war brought negative news for stock market in 2019, but it will rouse China to expand infrastructure investment to stabilize the economic situation, which will also bring a medium-term positive effect for the consumption growth in Chinese stainless steel market.
London Metal Exchange (LME) nickel price surged above US$12,000/ton yesterday (May 16th) and kept rebounding recently. Therefore, stainless steel market in China was supported by the increase in nickel price. However, the previous chaos in stainless steel market made market participants more cautious and prefer to take a wait-and-see attitude currently.
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