Price trend

According to the price monitoring of SunSirs, the price of stainless steel has slightly decreased this week. As of April 11th, the daily average price of spot 304/2B stainless steel flat plate 1.0 * 1219 * 2438 (tolerance 0.91) was 12,392.86 RMB/ton, a decrease of 1.98% from the beginning of the week and a year-on-year decrease of 2.6%.

According to the price difference analysis tool of SunSirs, the prices of nickel and stainless steel were basically similar, and both prices have slightly decreased in recent times.

Analysis review

This week, the total inventory of stainless steel was 108.44 tons, a decrease of 0.29% compared to last week. Among them, cold-rolled inventory increased while hot-rolled inventory decreased.

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 the perspective of supply and demand, the price of nickel iron continued to decline, and there was temporarily no clear news of production reduction for stainless steel. Production remained at a high level, but recently the market has experienced a significant decline, and spot prices have also started to decline with the market, resulting in limited overall transactions. The price of nickel sulfate has been lowered, making it difficult for new energy links to boost prices. As of April 11th, nickel prices remained at a low level and fluctuated within a narrow range. Recently, there were occasional signs of a red turn in foreign trading, which suppressed further decline in nickel prices. However, with the introduction of China's trade countermeasures policies and the overall heat of the trade war once again escalating, there is still room for downward movement due to market pessimism. The exchange of tariffs between the United States and Vietnam may hinder the digestion of China's steel exports, and coupled with weak demand, there are certain concerns overall.

Market outlook

As of April 11th, the trend of stainless steel had a certain resonance with the decline of black series. The market transaction performance was weak, the release of terminal demand was insufficient, and there was a strong wait-and-see sentiment in the market. In the short term, it is expected that the price of stainless steel will fluctuate widely with the macro trend.

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