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Welcome to RONSCO Weekly! This article will provide you with the latest Chinese steel prices and market insights each week.
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This week, Shanghai nickel continued the weak market, but last Friday, Shanghai nickel rebounded strongly, driving nickel prices throughout the week, a certain increase in stainless steel was also driven, but relatively speaking, stainless steel trend is weaker.
From the macro point of view, the Federal Reserve by raising interest rates by 25 basis points to 4.75%-5% range, in response to the economic slowdown, Europe and the United States central banks fearless banking crisis, the continuation of the pace of interest rate increases, although the economic data is still supportive, but the financial sector risks still can not be ignored.
From the perspective of the industry, the core contradiction of the current nickel industry chain mainly lies in the weak demand, the pressure continues to be transmitted upward, despite the reduction in stainless steel inventory this week, but the stainless steel spot decline continued, stainless steel production cut news, nickel and stainless steel transaction price to a new low, resulting in low market confidence.
Overall, the current nickel and stainless steel industry chain still has more negative factors, nickel and stainless steel prices rebound market or difficult to sustain, the nickel plate continues to be treated with bearish ideas.
Apart from the above, there are also uncertainty risks, which include: geopolitics, Federal Reserve policy, domestic real estate policy, LME delivery item changes and other factors.
Let's hope for the best and monitor the trends as they evolve. Well, what is your opinion on the Chinese steel market?
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