The latest price of stainless steel (4-12): 15400 RMB / ton, the market outlook is bullish

Analysis points: On the 12th, the current price of stainless steel futures rebounded from a low level, rising by about 3% in a single day. This rebound was mainly due to the impact of Tsingshan's price-limited purchases. According to the news, at the Qingshan Furnace Material Conference, the procurement decision was made, and the raw materials were collected at a suitable price, and the production was reduced if the price was not suitable. Then there was news that the production would be reduced, and the range ranged from 20% to 40%. Then, Qingshan The agent raised the price by 100 RMB/ton, and the dealer also took advantage of the trend to raise the price. In addition, Delong raw material costs are high, all Xiangshui nickel-iron lines have been shut down, steelmaking is scheduled to be shut down around April 15, and one line of cold rolling is also expected to be shut down, and the time for resumption of production is to be determined. In terms of upstream nickel, the LME lowered the margin for nickel from US$6,100 to US$5,700. Affected by this, nickel prices rose slightly.

Forecast of the market outlook: In summary, the news of production reduction drives the price of stainless steel, but whether the production reduction can really be implemented remains to be verified. There is no obvious boost in demand, which suppresses the rebound of stainless steel. It is expected that the price of stainless steel still has room to be boosted by the good news, but there is no real increase in demand, and the boost is expected to be limited.

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