Question: Why is the price of 304 stainless steel coils on the market rising so much? This price increase is so high, will it continue to increase in the future?
Answer: The price increase of such products is related to the nickel price. When the price of nickel rises, the price of stainless steel coil also rises; on the contrary, the price falls. Because in the raw material of stainless steel, the corrosion resistance of stainless steel depends on whether the content of nickel is more or less. Nickel is the main component of stainless steel coil. According to our recent survey findings, the international nickel price has dropped slightly, and the price of stainless steel has also dropped slightly. It is not ruled out that the upstream nickel speculators took profits after taking profits, resulting in a slight price reduction of nickel prices. In the long run, nickel prices have a further upward trend.