Steel News

We strive to let you one step ahead of the market.

Stainless steel producers might still face inventory pressure after National Day holiday

2 Oct 2024 17:52 reported by Stanley Wang

A A A
The outlook for China's domestic stainless steel market has been bleak since early September, marked by low sentiment across various sectors, including plates, profiles, pipes, and wires. The anticipated boost from the peak consumption season, September and October, has failed to materialize, and trader enthusiasm remained low during the Mid-Autumn holiday. While some essential orders are beginning to emerge due to policy and macroeconomic factors, many remain cautious and on hold.

Despite these challenges, demand for stainless steel in South China is steadily increasing, particularly in the automotive, new energy, and environmental sectors. In Wuxi, total stainless steel inventory decreased to about 611,000 tons, down by 1.38% over the week. Although steel mills are maintaining stable prices, a surplus of resources persists, and traders are adopting a cautious approach amid ongoing market uncertainties. Overall, the steel mill may still face inventory pressure after the National Day holiday.

Back to Steel News

Related News

Spain’s Transmesa invests EUR 15 million in Catalonia plant for hybrid and hydrogen vehicle stainless steel tubes

  • Stainless Steel
  • 21 Apr 2025 15:13

Nickel price rebound expected to ease pressure on Yusco, boost stainless steel market

  • Stainless Steel
  • 21 Apr 2025 13:36

Nickel prices surge by 10% in a week, outpacing other metals

  • Stainless Steel
  • 17 Apr 2025 17:11

US announces final subsidy rate to South Korea’s stainless steel sheet and strip in coils

  • Stainless Steel
  • 17 Apr 2025 15:03

Worldstainless: Global stainless steel production rises by 7% in 2024, driven by Asia

  • Stainless Steel
  • 16 Apr 2025 16:31

Metal Price Index

Learn more

LME Official Bid Price

  • Zinc
  • 2,520.00
  • 2,561.00
  • Aluminum
  • 2,327.00
  • 2,366.00
  • Copper
  • 9,103.00
  • 9,132.00
  • Nickel
  • 15,400.00
  • 15,610.00

Learn more

Coil Exchange Center

Learn more