Stainless steel futures on the Shanghai Futures Exchange rose as much as 2.5% on Tuesday, gaining for the second straight session, driven by rising commodity prices and expectations of strong demand after the Chinese New Year holiday. Reuters agency reported in an article dated Jan. 26, 2021.
Market is optimistic about post-holiday consumption
“China’s recent nickel pig iron production has continued to fall, nickel pig iron prices have risen steadily…. Stainless steel costs will remain high,” a Huatai Futures analyst wrote in a note, adding that the market is optimistic about post-holiday consumption.
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