Chinese stainless steel market is under current stock pressure
18 Oct 2007 12:51 reported by Megan Huang
China’s national long holidays have led a pile-up steel stock in the past few weeks. The stainless steel market shows a temporary slow-down after the recovery in late September.
Although October was normally expected a high season with more active market demands, the sales were stopped during the holiday period and this caused a higher stock level with weak stainless market prices.
However, the market participators are positive towards the latter market sentiment in China market on a prediction of buyers’ large year-end demand and the major stainless steel mills are predicted to raise their listed prices in order to stimulate traders’ orders.
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