Price trend

According to the price monitoring of SunSirs, the price of stainless steel fell slightly on the 2nd, and the spot price was 18,766.67 RMB/ton, down 0.35% from the previous trading day and up 16.56% year-on-year.

Analysis review

Recently, the price of stainless steel has been running weakly, and the social inventory has been piled up again last week. At present, the downstream enterprises have less stock, and the seasonal demand remains to be seen.

This year, there are many new stainless steel production capacity, which puts pressure on stainless steel prices. In February, 32 domestic stainless steel plants planned to schedule 2.4588 million tons of crude steel production, which is expected to increase by 2.9% month-on-month and decrease by 4.6% year-on-year. At present, stainless steel mills have no plans to reduce production in March, but the recovery of demand is relatively slow. Steel mills are weak in receiving orders, more goods arrive, and inventories rise.

The upstream nickel fluctuates widely, the price is firm, and the cost has support for the market of stainless steel.

Market outlook

It is expected that the price of stainless steel will fluctuate and tend to be weaker.

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