China’s hot-rolled stainless steel inventory falls on higher demand
Time:Tue, 03 Jan 2023 08:16:03 +0800
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On December 29, 2022, China’s inventory of stainless steel totaled 142,700 tons. Among them, the inventory of cold-rolled stainless steel was up by 20.12% week on week to 25,100 tons, and that of hot-rolled stainless steel dropped by 4% week on week to 117,600 tons.
Hot-rolled stainless steel stock decreased obviously because nickel and stainless steel futures hiked amid the recovering market, which increased the shipment of hot-rolled stainless steel. Besides, the arrival of hot-rolled stainless steel decreased, but downstream buyers had higher demand before Spring Festival.
The current ferrochrome price is at a high level, thereby supporting stainless steel prices, especially for 400 series cold-rolled and hot-rolled products.
In addition, the price of ferromolybdenum continues to rise, coupled with tighter sources, so both 316 and 316L stainless steel prices are being upheld.
