SHANGHAI, Nov.23 (SMM)－Most time during this week see rising nickel price. But SMM learned that price of stainless steel did not follow nickel’s tendency. Up to today, price of stainless steel 304 has stabilized. Series 201 and 430 have dropped in price compared with last Friday, mainly because social inventory is sufficient especially for hot-rolled stainless steel. Up to mid-November, stainless steel inventory in Wuxi and Foshan has increased 200,000 tons compared with late October. Thereinto hot-rolled inventory has increased 220,000 tons. Also, dropping price of ferrochromium also encumbers stainless steel price.
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