The global financial tsunami is raging with abandon, and the cold tide of its effects are hitting us in the face. The economies of countries around the world have been widely impacted, and an increasing number of small and medium-sized enterprises are once again falling into a horrifying crisis. The risk of large-scale unemployment is gradually worsening. With the continued plummeting of the London Composite Nickel price, the prices of stainless steel raw materials and products have also sharply declined. Under conditions of increasingly weak demand, many domestic stainless steel profile enterprises have no choice but to remain dormant in the midst of turmoil.
The year 2008 can be described as an extraordinary year. After our country endured numerous hardships, we not only failed to achieve the "desired results," but were also pushed into a confrontation with the economic crisis. For the domestic stainless steel profile market, 2008 was also an extraordinary year, but it was also a year of helplessness. At the beginning of the new year, many profile companies had already prepared for new challenges within the year, but they did not expect these challenges to come so quickly and suddenly. After a prolonged six-month slump, starting in mid-year, domestic profile prices began to decline step by step. Especially around National Day, the downward trend accelerated. During the long holiday, due to the lack of relevant nickel price reports in the market, this directly led to significant losses for many profile companies. To this day, the London Composite Nickel price has broken through ten thousand again, but the impact of this breakthrough is far less than in October. Many profile companies have remained largely indifferent to this breakthrough. According to bold predictions from relevant experts, until the end of the year, domestic profile prices will largely remain stable, and even if there is a decline, the extent will not be too great.