Stainless steel scraps in bullish sentiment

According to market research, Nanhai stainless steel scraps are little impacted from the previous fluctuations of nickel price, instead it continues the steady and slightly upward tone. Trading in the market is also expected to turn more active with the rising bullish sentiment seen in the market.


The current inventories of stainless steel scraps in Nanhai have already been very low. For example, the 300 series in Nanhai are at an as low as 50,000 tons inventories level. This tightness inevitably triggers a strong unwillingness to sell in the market. So, many the holders are seen quite persistent to their offers, firm and confident.


Therefore, most the recyclers and downstream consumers in Nanhai market are hard to make purchases at lows right now. They have to pay more in order to increase their stockpiles. So, prices of stainless steel are seeing more factors to drive it higher.


Meanwhile, some Nanhai traders (stainless steel scraps) point out that the metal supplies on the long run will not see any big change. This means the stainless steel scraps will see less possibility to trend negatively. Coupled with the long-range inflation forecast, stainless steel as well as other commodities will post a better picture.


As for the stainless steel rolling sheet, according to market research, prices in Nanhai market stay stable with slight gains. But buying sentiment at the yearend is not very high. So, trading volumes in the market are still constrained.


At the moment of this writing, 304/2B 2.00 mm stainless steel rolling sheet is quoted at 24,800 yuan/ton; 201/2B 2.00mm stainless steel rolling sheet is quoted at 12,500-12,600 yuan/ton, and 430/2B