Asian stainless steel prices remained stable for the third consecutive week, reflecting the stability in regional export offers. Taiwan’s export quotes kept unchanged, and Chinese export offers rebounded to steady levels after a brief dip earlier in the month.
Raw material trends diverged as London Metal Exchange (LME) nickel prices weakened, whereas Indonesian nickel pig iron gained ground. In China’s domestic market, ferronickel values stabilized despite minor recent drops in the past week, and stainless steel futures had a weekly increase.
Market participants said that trading activities remain quiet during the traditional off-season. However, consumption levels outpaced the same period last year. A recent peace accord in the Middle East helped nickel prices bounce back, indicating a firm short-term trend for the overall market.