Yule United, Tang Rong stainless steel shouts up

March 22, 2022

The international nickel metal price stood at more than US$18,000 per metric ton, setting a new high since September 2019, supporting steel mills' price hike attempts, especially the major supplier, Qingshan, Indonesia, which released a message of continued price increases, Yusuk United, Tang Rong (2035), etc. The stainless steel prices of upstream factories will rise again in February, effectively injecting revenue.


According to the legal person, the spot price of nickel metal on the London Metal Exchange (LME) has soared by US$1,535 per metric ton in the past two weeks, and the momentum is firm, supported by overnight trading, and the spot price remains high, which encourages the price of pure nickel and nickel pig iron. Increasing, coupled with the serious shortage of ferrochrome, steel mills want to rise.


The main supply of Asian stainless steel materials in Qingshan, Indonesia, has been adjusted twice in five trading days, with a total increase of US$75 per metric ton. Due to the high production cost and shortage of raw materials, the price may be increased again in the short term. The increase is estimated to be US$30. If it is true The Indonesian green mountain has increased the price by 200 US dollars since January this year, about 5,600 New Taiwan dollars, and Taiwanese steel mills have raised their prices in February without any suspense.


On the other hand, as the price of LME nickel, nickel pig iron, ferrochrome, scrap and other major stainless steel production raw materials continue to rise, the production costs of steel mills have been increased, and Chinese steel mills have actively raised prices, which led to a sharp rise in the stainless steel market.


Director Tang Rong pointed out that prices "follow the market". When raw materials go up, they can only respond to price increases. At present, the focus is still on the rise and decline of terminal demand. The industry is more worried about whether the new crown pneumonia epidemic will cause a new wave of city closures. , Will affect consumer demand at that time.


Experts said that the epidemic caused people to be unable to go abroad, which triggered a boom in domestic tourism. The mainland's automobile production performance last year was outstanding, which further drove the demand for steel, and the fastener market recovered simultaneously. If the city is closed again in the future, even regional traffic will be restrained. , Car sales will inevitably decrease, causing a series of problems related to the industry chain.