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Home > Stainless steel plate News > News Detail
Stainless steel plate News
SunSirs: Stainless Steel Rose First and Then Fell This Week (August 21-25)
August 28 2023 14:50:04SunSirs(John)

Price trend

According to the price monitoring of SunSirs, stainless steel rose first and then fell this week. As of August 24th, the daily average price of spot 304/2B stainless steel flat plates 1.0 * 1219 * 2438 (with a tolerance of 0.91) was 14,235.71 RMB/ton, a decrease of 0.1% from the 14,250 RMB/ton at the beginning of the week and a year-on-year decrease of 3.27%.

Analysis review

According to the price difference analysis tool of SunSirs, the price trends of nickel and stainless steel were mostly similar, and upstream nickel affected the price of downstream stainless steel.

This week's total stainless steel inventory was 100.08 tons, a decrease of 2.24% compared to last week. Among them, cold rolled inventory increased and hot rolled inventory decreased.

In July 2023, the production of 300 series crude steel from 41 domestic stainless steel plants reached 1.6906 million tons, an increase of 5.6% month on month and 26.2% year-on-year; In August, production scheduling continued to increase, with 300 series of 1.6999 million tons, an increase of 0.6% month on month and 30.4% year-on-year. There is an expectation of a ‘golden September and silver October’ peak season in the market, but there had not been a significant increase in terminal demand. The procurement in needed accounted for the majority, and steel mills have recently concentrated on arriving goods, suppressing the price of stainless steel. It is expected that the short-term trend of stainless steel will be mainly stronger. Indonesia's anti-corruption review, the issuance of RKAB had been suspended, and the supply of nickel ore had intensified. It was during the traditional reserve period, and the market was concerned about the shortage of raw materials. The transaction price of nickel iron had increased, the cost of stainless steel had risen, and production had suffered slight losses. Due to steel mills maintaining high production schedules and concentrated market arrivals, spot buying was cautious and inventory pressure was emerging.

Market outlook

It is expected that stainless steel will experience a mainly fluctuating trend in the short term.

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

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