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The downturn in the stainless steel market in May is hard to get rid of

The current global excess liquidity is an indisputable fact, and it is also a feature of the current global financial market and even the macro economy. The flood of liquidity in various countries is not suitable for the development of the real economy, but leads to the expansion of investment and the further deterioration of extreme speculation, and even worsens the macroeconomic situation. Economic and market stability is not conducive to the stability of the world economy and the domestic economy.

Chinese economic operation still faces some difficulties and challenges. From an international perspective, the world’s economic growth momentum is insufficient, global liquidity has increased substantially, the sovereign debt crisis has repeatedly impacted market confidence, and the deep-seated impact of the international financial crisis has continued to emerge. Experts at home and abroad generally believe that the current recession in developed economies has a huge impact on emerging market countries and developing countries, the world economy is in a state of “soft recovery”, and there is a problem of insufficient growth momentum. The global economy in 2013 still has downside risks.

Weaker-than-expected Chinese manufacturing data sparked demand concerns, and overall poor U.S. economic data sent base metals tumbling as a whole. The price of nickel futures fell below the psychological defense line of $15,000, reaching the lowest level since July 2009. The domestic stainless steel market is affected by nickel futures, and the price of dating cannot be lowered in a short period of time. Therefore, the author expects that domestic stainless steel quotations will be difficult to rise sharply in the next month.






Post time: May-19-2022