foodroulette| Indonesia's approval progress is slow, news of new ferronickel storage boosts stainless steel prices: still profitable despite weak demand

News summary

Stainless steel market: Nickel prices boosted by supply disturbancesfoodrouletteThe cost support is obvious. Production scheduling increased in May, downstream demand was weak, and inventory removal was slow. Stainless steel prices are expected to fluctuate strongly in the short term.

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The stainless steel market has been disrupted by supply, and price expectations continue to rise.[Investment Research Information] Recently, social unrest in New Caledonia and the slow approval process of RKAB in Indonesia have becomefoodrouletteThe focus of market attention. Social unrest in New Caledonia has disrupted the production of wet intermediate products, while Indonesia has announced only 2.5 percent of the RKAB approval progress.foodroulette.17.6 billion tons, compared with March, the approval speed dropped significantly, which intensified market concerns and pushed nickel prices up.

[News of purchasing and storing ferronickel at the raw material end triggers market activity] Market observers pointed out that the ferronickel market has recently seen news of purchasing and storing, with frequent transaction activities and prices hitting record highs, which has formed a strong support for the cost of stainless steel.

[Production schedule increased in May, but demand was weak] Industry data showed that stainless steel production increased in May. However, demand in the downstream market did not seem to be strong and digestion capacity was limited, resulting in a slight decrease in inventories this week. Despite this, the stainless steel factory is still in a profitable state and its enthusiasm for production remains unchanged. The industry is generally concerned about the recovery of demand in June.

[Stainless steel prices are expected to fluctuate upwards in the short term] Currently, cost support and macro expectations are positive for stainless steel prices, although the demand side performance is weak. Analysts expect that in the short term, stainless steel prices will show a volatile and strong trend.

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