Price trend

According to the price monitoring of SunSirs, stainless steel slightly increased this week. As of July 21st, the daily average price of spot 304/2B stainless steel flat plates 1.0 * 1219 * 2438 (with a tolerance of 0.91) was 13,671.43 RMB/ton, an increase of 1.65% from 13,450 RMB/ton at the beginning of the week and a year-on-year decrease of 13.98%.

Analysis review

According to the price difference analysis tool of SunSirs, the price trends of nickel and stainless steel are mostly similar. Recently, there were differences in the prices of nickel and stainless steel, and the adjustment of stainless steel was relatively flat.

This week's total stainless steel inventory was 102.67 tons, an increase of 1.44% compared to last week, including an increase in cold rolled and hot rolled inventory.

This week, the market was relatively optimistic about the "Golden September and Silver October" period, with a general preference for expectations. In addition, driven by a significant increase in market prices, the sentiment of stainless steel spot prices had further improved. The profit margin of stainless steel production improved, and the production schedule remained relatively high in June and July. The number of drifts and unloading ports in transit had increased, and the subsequent arrival of resources in the market would gradually increased. In June, the crude steel production of 41 stainless steel factories in China reached 1.603 million tons for 300 series, a decrease of 0.2% month on month and a year-on-year increase of 19.3%; In July, the 300 series reached 1.677 million tons, an increase of 4.8% month on month and 25.1% year-on-year. Entering the traditional hot off-season, downstream purchases were mainly on demand at the beginning of the month, and transactions remained weak.

Market outlook

As of July 21st, the fundamentals of stainless steel did not support a sustained rebound, and the stainless steel market will maintain a stable and stronger trend in the short term.

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