Stainless Steel Prices May Have Peaked as Demand Lacks Momentum

SHANGHAI, Sep 13 (SMM) - Spot stainless steel prices were basically unchanged in early trade in Foshan. According to manufacturers, price hike was mainly triggered by fears over tightening supply caused by production restrictions. However, demand was not robust enough to support stainless steel prices according to actual transaction market last week. Domestic consumption was conservative in light of the status of the macro economy, and the stainless steel market has also been dominated by wait-and-see attitude.

As such, should there be no further output cut policies, near-term stainless steel prices are likely to pull back gradually.