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Stainless steel market demand remains weak

5 Oct 2019 11:33 reported by Elena

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Stainless steel price had risen for four consecutive months, plus the peak season was coming, the price and demand should increase in theory, but the demand remained weak.

In this June to April, the iron ore price had increased dramatically, which support the cost very much, but the over-supply issue and weak demand from the market, both pulled the carbon steel price back, even lower than before.

For stainless steel products, the same situation had happened, the price of nickel had increased dramatically but the price already increased around NTD$10,000/ton in the past four months, which caused the market to lower their purchase power.

As Yusco for an example, which is one of the leading stainless steelmakers in Taiwan, decided to increase the price for October, but the inventory order from the market was still weak.

The market participants expected that the future trend of the steel price would be much clear after Chinese National Day's holidays.

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