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A surprise jump in stainless steel production this year in China, the world''s biggest nickel user, may reignite a rally in nickel prices as investors shift focus to demand from worries over Philippine supply.
China''s output of nickel-bearing stainless steel, which uses more nickel than overall stainless steel, during January to July surged to 11.201 million tonnes, up 10 percent from the same period in 2015, according to UBS. Overall stainless steel output for the first seven months of 2016 was 8 percent higher than a year ago at 13.639 million tonnes, UBS said.
A forecast released in February by UK steel consultancy MEPS for Chinese output called for only a 1.7 per cent increase.
不銹鋼展-2017第十八屆廣州國際不銹鋼工業(yè)展-效果最好的不銹鋼展會-The 17th China(Guangzhou)Int''l Stainless Steel Industry Exhibition
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