China’s stainless steel inventory drops due to improved transaction
17 Jan 2022 15:49 reported by Joy Liu
China’s stainless steel futures have risen for several days last week due to rising nickel prices, production cuts by a certain cold-rolling mill, and demand for stockpiles at the end of the year.
Driven by rising prices, the transaction last week turned better than the previous week. As of January 13, 2022, China’s stainless steel inventory totaled 578,100 tons, a week-on-week decrease of 3.74%.
In December 2021, the country’s stainless steel output, especially in 200 series, increased due to positive production on better profits. Meanwhile, the output of 300 series dropped slightly. However, due to month-on-month increases in most steel mills’ inventory, the overall inventory remained high.
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