Price trend

According to the price monitoring of SunSirs, the price of stainless steel has slightly increased after the holiday. As of February 7th, the daily average price of spot 304/2B stainless steel flat plate 1.0 * 1219 * 2438 (tolerance 0.91) was 12,178.57 RMB/ton, an increase of 1.07% compared to the previous year and a decrease of 7.34% year-on-year.

According to the price difference analysis tool of SunSirs, the prices of nickel and stainless steel are basically similar, and recently the prices of nickel and stainless steel have slightly increased.

Analysis review

As of February 6th, the total inventory of stainless steel was 104.6 tons, an increase of 16.8% compared to the beginning of the year, with both cold and hot rolling inventories rising.

Import and Export: In December 2024, the import volume of stainless steel in China was 142,300 tons, an increase of 12,100 tons compared to the previous month, with a growth rate of 9.25%; A year-on-year decrease of 125,800 tons, a decrease of 46.94%. From January to December 2024, the total import volume of stainless steel in China was 1.8776 million tons, a year-on-year decrease of 193,200 tons, a decrease of 9.33%.

In December 2024, China's stainless steel exports amounted to 465,700 tons, an increase of 26,400 tons or 6.00% compared to the previous month; An increase of 130,200 tons year-on-year, with a growth rate of 38.80%. From January to December 2024, the total export volume of stainless steel in China was 5.0442 million tons, an increase of 906,900 tons year-on-year, with a growth rate of 21.92%.

The ban on raw ore exports in the Philippines has raised concerns in the market about nickel ore supply, and the maintenance of the East China Stainless Steel Cold Rolling Plant has affected production, driving stainless steel prices to fluctuate and rebound. But rumors of Indonesian nickel ore quotas have been circulating, and the cost support for nickel iron may shift downwards, coupled with the pressure of stainless steel inventory accumulation.

Market outlook

Overall, the supply and demand of stainless steel were relatively loose, with an expected increase in production on the supply side and sluggish sentiment in the spot market. The downstream demand side has not fully resumed work, resulting in weak demand; The price of raw materials has rebounded, but the supply of minerals was sufficient, and it is expected that the rebound of stainless steel prices will be limited.

If you have any enquiries or purchasing needs, please feel free to contact SunSirs with support@sunsirs.com.