Prices rise further on tight stainless supply worldwide

摘要

Stainless prices continued to rise strongly across markets. Expectations that Chinese production will decline in 2021 H2, as part of the decarbonisation efforts of the government, contributed to price strength in recent weeks. That, along with rising raw material costs, led to a sharp rebound in Chinese domestic stainless prices and contributed to the rally in prices elsewhere. While Chinese production has fallen slightly from record highs in March, volumes have been stable in recent months, showing no indication of cutbacks. In the meantime, there are still rumours of a potential export tax that could be implemented in mid-August, providing additional support to prices.