China’s stainless steel futures jumped 12% to a record high on Tuesday on rising nickel prices as around 10% of the world’s nickel comes from Russia. The most-traded stainless steel contract for April delivery on SHFE rose to RMB 22,125/t ($3,503/t) in the morning session – the highest level since it was launched in 2019. Prices rose to an all-time high following the surge in stainless steel prices.
Leave a Reply