Price trend

According to the price monitoring by SunSirs, stainless steel continued to decline slightly this week. As of March 24, the daily average price of spot 304/2B stainless steel flat plates 1.0 * 1219 * 2438 (tolerance 0.91) was 14,564.29 RMB/ton, down 1.26% from the price of 14,750 RMB/ton at the beginning of the week, and down 23.83% year-on-year.

According to the price difference analysis tool of SunSirs, the price trend of nickel and stainless steel was basically consistent. Recently, both stainless steel and nickel prices had declined, while nickel prices had rebounded slightly.

Analysis review

This week's stainless steel inventory totaled 1.3072 million tons, down 3.31% from last week, both cold rolled and hot rolled inventories were down.

Since March 13th, when the price limit of South China Steel Plant was lifted, the agent's price had been adjusted to the mainstream market price, and there was room for negotiation on the actual order. Shipment had improved compared to before the price limit, and a small number of wait-and-see customers were starting to place orders to purchase.

Recently, market pessimism was strong, and the profit space of the industry chain from the bottom up had been squeezed. Faced with the fact that the price of ferronickel had fallen below the cost line, domestic iron plants were unable to accept market low prices due to production losses, most iron plants implemented production reduction plans. Although there was a relatively significant decrease in inventory, overall market transactions had been poor, while raw material prices had also declined slightly, which weakened their support for the price of finished products.

Market outlook

It is expected that the price of stainless steel will fluctuate to be weaker in the short term.

If you have any questions, please feel free to contact SunSirs with support@sunsirs.com