Driven by a strong futures market, spot prices of stainless steel in China are on the rise, with a price level above CNY 12,960 per ton. A significant increase in stainless steel futures, which have climbed since early June, led major steel mills to raise their prices. This growth created a more optimistic market sentiment, with positive order intake for mills. The upward trend is shown in 316L and 202 hot-rolled stainless steel plates.

Meanwhile, the nickel ore market remains stable. With steady prices for nickel ore and a rise in demand, the profitability of ferronickel factories has improved, though they continue to approach raw material procurement cautiously.