Price of Nickel continue fall in London Market Chinese stainless steel prices continued to decline

London nickel prices continued to fall, affected 29th Chinese stainless steel market continued to fall over the past few trading days of stainless steel prices continued to decline, the cumulative declines.

Norway's central bank announced on the 29th overnight deposit rate by 25 basis points to 1.5%. This is the second in Australia, India, interest rates for the first European central banks raise interest rates behavior, further increasing the market for the global economy out of "loose" monetary policy concerns; In addition, the United States in September new home sales unexpectedly drop in the end 5 months since the rise; repeatedly under the influence of bad news, 29 three major U.S. stock indices fell sharply again, and there is no shortage of investors began to worry whether the current U.S. economy can continue to support gains in U.S. stocks for some time now. The U.S. dollar safe-haven buying support and rebound. Over the same period of metal across the board sell into, 29 fell 2.23% Copper & closing, Lun nickel in closing down 760 U.S. dollars / hand, to close at 17,875 U.S. dollars / hand. China Stainless Steel Cold-volume main contract CR1001 Exchange closed 19,920 yuan / hand, down 520 yuan / hand, down 2.54%. 15,320 transactions a day in hand, ordering the amount of 24,456 hands, compared with the previous trading day reduced the 1,540 hands.

POSCO issued stainless steel prices on November 28th, not adjusted prices. As a result, the maintenance of 304 hot-rolled 3.25 million won, 304 cold-rolled 3.52 million won, 400 hot-rolled 1.79 million won, 400 cold-rolled 2.17 million won in 10 months of prices. Customs import and export statistics show that in September TISCO tainless steel tube chain stainless steel plate export volumes increased dramatically, an increase of 88.33%, which is 2009 1 Zhi September TISCO stainless steel single month since the total exports reached the highest value. September month, the total volume of export of stainless steel plate close to 20,000 tons. As the financial crisis, the impact of the global economy to gradually subside, the export market is also starting to recover gradually warmer. Although the September month, total exports TISCO stainless steel to create a self-best finish since the financial crisis, but a single month there are still 21.00 percent year on year decline, and the month on the 1 to 9, total exports of stainless steel plate in coils of view, 09 1 to 9 years, total exports rose compared with same period last year declined by 76.96 percentage points, with only less than 70,000 tons of stainless steel exports. The data from this point of view, the financial crisis in 2009 stainless steel for the export of the commodity big hit, although the export momentum in the present situation has improved, but the whole trend of the decline in exports can not be reversed, in the capacity of production continue to release the context of a post still needs more of a positive domestic demand to complete.