Price trend

According to the price monitoring of SunSirs, stainless steel fell slightly this week. As of May 27, the daily average price of spot 304/2B stainless steel flat 1.0*1219*2438 (tolerance 0.91) was 17,715 RMB/ton, compared with the price of 17,873.33 RMB/ton at the beginning of the week, fell 0.89% and rose 17% year-on-year.

Analysis review

According to the monitoring data of SunSirs, the recent spot stainless steel and nickel prices have roughly the same trend. Near the weekend, the nickel price rebounded, and the stainless steel price continued to be weak.

Recently, the overall shipment situation of the stainless steel market is not good, and the overall digestion of stainless steel inventory is not obvious. Although the arrival of stainless steel has decreased, the digestion has not changed much. According to feedback, the transaction in May was still worse than that in April. In the past two weeks, there were very few inquiries. Near the end of the month, in order to withdraw funds and improve the flow of goods, traders still had preferential operations to make profit-cutting after the spot price continued to fall.

Whether it was steel mills or market traders, everyone was in a state of loss, but the actual downstream purchases were relatively small, mainly based on rigid demand, and the volume had not increased. Regarding the follow-up market, market traders were mostly pessimistic, and the transaction price would be downward under pressure.

Market outlook

It is expected that the spot price of stainless steel will still fluctuate on the weak ride.

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