Stainless Steel Market: Price Adjustments and Transactions Insights

📘 Nickel and Stainless Steel Morning Briefing 📘

June 17, 2024

Nickel Market Overview 📈

Nickel ore prices are on an upward trend due to tight supply. As of June 14, 2024, the CIF prices for laterite nickel ore remain steady, with low aluminum ore at $37/dry ton, 1.3% nickel ore at $33/dry ton, and 1.8% nickel ore at $71-72/dry ton. Domestic nickel iron enterprises are cautious in price negotiations due to narrowing profit margins and cost inversions.

Chromium Market Update 📊

Chromium ore futures are on the rise, while spot prices remain stable. The supply of chromium ore from South Africa and Turkey is tight, with futures contracts reflecting an optimistic outlook. However, the high cost of imports and cautious purchasing by ferrochrome factories are keeping the market in check.

Stainless Steel Market Dynamics 🏭

The stainless steel market in Wuxi and Foshan saw prices decline last week. The weak performance of stainless steel futures and the macroeconomic atmosphere led to a decrease in raw material prices. Despite efforts to lower prices to facilitate transactions, the market sentiment remains cautious, with a focus on urgent demand orders.

Stainless Steel Product Highlights ✨

Americ Energy offers a variety of stainless steel grades, such as 201, 304, 316, 310S, 321, and 430, each with unique properties that cater to specific industry needs. Their products are known for corrosion resistance, formability, and high-temperature performance.

Contact Americ Energy for Your Stainless Steel Needs 📞

For more information on our products and services, visit our website, or contact us via email at ae@americenergy.com. Our phone and whatsapp number is 13521210668. We are located at No.298 Fengwei Road, Xishan Development Zone, Wuxi City, Jiangsu Province, China.

Americ Energy (CHINA) Co., Ltd.: Your Trusted Source for Versatile Stainless Steel Products