Recently, the price of domestic high-nickel 20X23N18 stainless steel iron continues to fall. During the investigation this morning, the main factory price was listed at 1130-1140 yuan/nickel, which is 5 yuan/nickel lower than yesterday.
Recently, multi-grade steel mills will undergo maintenance and production cuts from October to November, which is expected to affect the output of 260,000 tons of 300 series. As the production cuts at steel mills are gradually advanced, the demand for raw materials has weakened significantly. The ferronickel oversupply situation has intensified and the ferronickel price is under downward pressure.