Price trend

According to the price monitoring of SunSirs, stainless steel rose first and then fell this week. As of June 24, the daily average price of spot 304/2B stainless steel flat plate 1.0*1219*2438 (tolerance 0.91) was 16,830 RMB/ton, compared with the price of 16,892.5 RMB/ton at the beginning of the week, down 0.37%, and up 8.63% year-on-year.

Analysis review

According to the spread analysis tool of SunSirs, the recent spot stainless steel and nickel prices ere relatively weak, but the stainless steel price was relatively good.

Under the macroeconomic influence, the center of gravity of non-ferrous metals generally moved down, and nickel prices dropped, but the current nickel warehouse receipts are at a low level, which has certain support for nickel prices. The downstream demand for nickel has not improved significantly recently, while the production of nickel intermediates on the supply side is increasing day by day, and the gradual loosening of supply has put pressure on nickel prices.

In terms of stainless steel, downstream demand is expected to be pessimistic. Recently, the cost of raw materials has continued to decline. However, most of the current price steel mills are still facing losses. In June, the production of 300 series stainless steel was significantly reduced. Last week, the social inventory of 300 series cold-rolled steel went to the warehouse slightly, but it is still at a relatively high level.

Market outlook

It is expected that stainless steel may maintain weak operation in the short term.

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