Price trend

According to the price monitoring of the business society, stainless steel rose slightly this week. As of February 11, the daily average price of spot 304/2B stainless steel flat 1.0*1219*2438 (tolerance 0.91) was 17,056.67 RMB/ton, compared with the price of 16,790 RMB/ton at the beginning of the week, up 1.59%, and up 21.69% year-on-year.

Analysis review

According to the price data of SunSirs, both spot stainless steel and upstream spot nickel prices were on the rise this week.

In terms of supply and demand: the price of nickel at the raw material side rose slightly, and the cost had strong support. This week, the new year's work gradually opened, and the market was slowly active. Before the Spring Festival, downstream enterprises were insufficient in stocking, and the demand for purchasing increased after the resumption of work. After the holiday, the social inventory of stainless steel has increased, and the stockpiling is obvious, but the inventory is relatively low compared with previous years, which supports the price.

Market outlook

To sum up: raw material costs are increasing, downstream demand is slowly recovering, and inventories are relatively low. It is expected that the price of stainless steel will be strong in the short term.

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