Price trend

According to the price monitoring of SunSirs, stainless steel rose first and then fell this week. As of March 11, the daily average price of spot 304/2B stainless steel plate 1.0*1219*2438 (tolerance 0.91) was 19,900 RMB/ton, down 0.86% from the price of 20,073.33 RMB/ton at the beginning of the week, and up 30.28% year-on-year.

Analysis review

According to the price monitoring data of SunSirs, the prices of spot stainless steel and upstream spot nickel both rose first and then fell this week.

Previously, stainless steel followed the rise of nickel prices. The current direction of stainless steel prices depends on the market's judgment on the next trend of nickel prices. While domestic crude steel production in March increased by 20.4% month-on-month, demand still needs to be observed, especially export demand. In the later stage, the price of stainless steel is likely to follow the price of nickel and return to rationality.

Market outlook

Stainless steel is expected to be weak in the short term.

If you have any questions, please feel free to contact SunSirs with support@sunsirs.com