Price trend

According to the price monitoring of SunSirs, on the 21st, the spot price of stainless steel rose slightly, and the quotation was 20,300 RMB/ton, an increase of 0.63% from the previous trading day and a year-on-year increase of 33.41%.

Analysis review                                          

The supply side's original production schedule in March increased by about 20% month-on-month, but recently Delong has reduced production by 30,000 to 40,000 tons due to the obstruction of raw material transportation. On the demand side, although the epidemic has affected market transactions, the overall social inventory still maintains a slow downward trend

Indonesia's Tsingshan has cut its monthly production by nearly 100,000 tons of stainless steel due to NPI's switch to high-grade nickel matte, while overseas stainless steel prices have soared, which is good for China's stainless steel exports..

Market outlook

It is expected that the price of stainless steel will be stronger than that of nickel in the short term, and the trend of stainless steel is still relatively strong.

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