Price trend

According to the price monitoring of SunSirs, the price of stainless steel has slightly increased this week. As of March 7th, the daily average price of spot 304/2B stainless steel flat plate 1.0 * 1219 * 2438 (tolerance 0.91) was 12,402.86 RMB/ton, up 1.37% from the beginning of the week and down 4.17% year-on-year.

Analysis review

According to the price difference analysis tool of SunSirs, the prices of nickel and stainless steel were basically similar, and now both prices have risen significantly.

This week, the total inventory of stainless steel was 112.3 tons, a decrease of 0.4% compared to last week. Among them, cold-rolled inventory increased while hot-rolled inventory decreased.

In February 2025, the crude steel production of domestic stainless steel plants was 3.1453 million tons, an increase of 283,800 tons month on month. In March, the production of 3,502,600 tons was scheduled, including 976,300 tons of 200 series, an increase of 6.26% month on month; The 300 series produced 1.9014 million tons, an increase of 14.94% month on month; The 400 series had 624,900 tons, an increase of 9.21% month on month.

From an upstream perspective, in terms of nickel ore, March is the month of Ramadan in Indonesia, and it is expected that Indonesia's nickel ore spot resources will remain tight in the short term; In terms of nickel iron, the mainstream transaction price of high nickel iron has been mostly between 980-995 RMB/nickel recently, with strong cost support; Although the price of ferrochrome has increased due to the rise in chrome ore prices, the driving force for price increase was insufficient due to oversupply. From a downstream perspective, the demand in the construction industry was weak, while industries such as home appliances and automobiles maintained stable growth in demand. The overall downstream demand was relatively weak, the market transaction situation was lower than expected, and the purchasing heat has cooled down.

Market outlook

The supply of stainless steel increased in March, but demand is unlikely to show a significant improvement. Downstream procurement remains cautious and essential, and the weak fundamentals of stainless steel are difficult to change. Overall, the hype surrounding Indonesia's policies may gradually subside, with strong support for stainless steel costs but no significant improvement in demand. The upward drive for stainless steel prices is limited, and it is expected that stainless steel prices will remain stable with a stronger trend in the short term.

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