SHANGHAI, Feb 8 (SMM) - Recently, the prices of raw materials for stainless steel are on the rise, making it a critical factor in ramping up new capacity.
Based on the expectations for a steady economic recovery in China, SMM forecasts that the release of stainless steel capacity will move up steadily. However, the raw material supply has been plagued by different issues.
First, the domestic ferrochrome supply in 2023 will remain in a tight supply-demand balance on account of low port inventory caused by the disrupted shipments from South Africa, which is compounded by the recent earthquake in Turkey.
Second, the NPI supply is expected to be sufficient on the smooth commissioning of new NPI production lines in Indonesia, but high-grade NPI with a grade of 8-9% may slip into a deficit.
The attention shall still be paid to the change on the raw material side.
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