Nickel price rise fails to spur increase in demand

摘要

Stainless steel market activity in the USA remains muted, but this should improve in the monthsahead. Year-on-year declines in mill shipments are becoming progressively smaller, and with the destockingcycle now over, we would expect shipments to improve further in the months ahead. Indeed,service centre shipment and stock data implies that distributors are already receiving increasingly highquantities of stainless steel (see chart). Despite the current lacklustre activity, lead times remain stretchedand recent price increases are percolating into the market. We believe that material received by servicecentres and distributors in July will reflect all of the recent price increases.