EU stainless steel price likely to rise due to market recovery
After the seasonal market slide came to recover, the stainless steel transaction price in the EU was likely to rise by the end of August.
This expected price rise was accelerated by the continuous hike in nickel prices recently.
Last Friday (August 9th), London Metal Exchange (LME)’s three-month nickel price was between in the range of around US$15,675-15,680/ton.
However, due to the market’s seasonal slowdown, the price rise of nickel didn’t affect the prices of finished steel products. Therefore, it was expected that stainless steel prices might rise when merchants began to replenish stocks by the end of August or at the beginning of September.
