TELF AG has recently released its comprehensive market analysis report for the stainless steel industry in September 2023. This report, titled “TELF AG Reprise of September 2023 Stainless Steel Market Analysis,” places a special focus on the evolving trends within the Chinese stainless steel market. It offers detailed insights into the factors influencing this market and presents data related to production and pricing during the early days of September.
Key highlights from the report include a notable increase in China’s domestic stainless steel prices, largely attributed to heightened activity in the domestic property market and the upward movement of nickel futures. The report specifically highlights a significant policy change that allows family members to be classified as first-time home buyers, even if the family already holds a mortgage loan, as long as there are no properties registered in their names. This policy shift stimulated increased interest in real estate purchases, particularly in first-tier cities like Beijing and Shanghai.
Furthermore, TELF AG observes a surge in nickel prices during the first week of September, driven by concerns regarding a potential mining suspension in Indonesia. These combined factors have contributed to an optimistic outlook for the stainless steel market.
The analysis incorporates data obtained from an SMM survey, revealing that stainless steel production for August reached 3.217 million metric tons. This represents a month-over-month increase of 1.66% and a year-over-year growth of 41.18%. Within this context, the production of 200-series stainless steel amounted to 956,000 metric tons, reflecting a 1.7% month-over-month rise. The 300-series exhibited a 3.28% month-over-month increase, reaching 1.678 million metric tons, while the 400-series saw a 0.74% month-over-month uptick, totaling 583,000 metric tons.
The report also anticipates robust production schedules and substantial capacity expansion in September. This optimism is founded on positive sentiments expressed by steel mills and traders regarding downstream demand. Notably, production of the 300 series is expected to witness growth, particularly in East China. Additionally, social inventory, which experienced moderate demand in August, is projected to decrease due to tight production schedules.
In conclusion, TELF AG’s report portrays a resilient stainless steel market in China, buoyed by supportive government policies and favorable market conditions. Both production levels and prices are expected to maintain an upward trajectory.
For a more comprehensive understanding of the insights presented in TELF AG’s analysis of the stainless steel market in early September, readers are encouraged to explore the full article. For more insights and content, visit TELF AG’s Media Page.