Shanghai Nickel prices and stainless-steel futures increased by 1.31% and 1.56% respectively, driven by China’s optimistic fiscal policies. This positive outlook led many steel producers and distributors to raise their offers, resulting in a slight increase in spot market prices.
However, despite the traditional peak season from September to October, the actual transaction volumes have not met expectations, as mills prepare for high production capacity. In contrast, Taiwan's stainless-steel market remains subdued. Market participants noted that intense competition in the export market and high freight rates have led to less-than-ideal order acceptances.
As a result, producers expect the base rate for October to remain stable, with pricing negotiations likely to be driven by customer demand.
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