Li Qiang: Nickel prices have begun to bottom out

At the recent industry conference, Li Qiang, executive vice president of China Stainless Steel Association and China Metal Materials Circulation Association Stainless Steel Branch, said that nickel prices have begun to bottom out.

He said that first, the price of nickel fell sharply below the bottom line, and the losses of industrial chain enterprises continued to intensify. The industry shuffled and forced some enterprises to go out, and the supply of nickel market continued to shrink.

Second, downstream stainless steel production continues to grow. The price of stainless steel has dropped significantly due to the sharp drop in nickel prices. The application field and consumption scale of reverse-pull stainless steel continue to expand. In addition, the 300 series share has steadily increased, and the 200 series has been improved in quality due to the addition of medium and low ferronickel. Vice President Li said that after the 2015 stainless steel market price war, the unprecedented awareness of stainless steel smelting and products and service industries will undoubtedly further support the adoption rate of high-end manufacturing and high-end consumer industries.

Third, terminal consumption is expected to increase. Various stable economic measures in the real economy are accelerating implementation. The increase in the number of infrastructure projects will drive the demand for stainless steel. Coupled with the advancement of the current emerging Internet + concept, the overall industry environment will be greatly improved.

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