Price trend

According to the price monitoring of SunSirs, stainless steel was mainly adjusted slightly this week. As of August 5, the daily average price of spot 304/2B stainless steel flat plate 1.0*1219*2438 (tolerance 0.91) was 15,311.25 RMB/ton, down 0.53% from 15,392.5 RMB/ton at the beginning of the week and down 17.43% year-on-year.

According to the spread analysis tool of SunSirs, the spot price of nickel has fluctuated widely recently, and the price of stainless steel has been falling weakly mainly.

Analysis review

This week, the total stainless steel inventory was 879,500 tons, a decrease of 0.98% from last week and an increase of 3.82% from the previous week. Among them, the cold-rolled inventory rose slightly.

Upstream nickel prices fluctuated widely. At the beginning of the week, the trading atmosphere of the downstream demand market improved, and there were many downstream inquiries and orders placed, and merchants were actively shipping. However, after the completion of the downstream staged stocking, the market sentiment turned to wait-and-see, and the price support was insufficient. It began to decline slightly on the 2nd, and then it mainly operated weakly and steadily.

Market outlook

In August, steel mills continued to reduce production, traders were under little pressure on inventories, and the probability of price cuts was low. However, downstream demand did not improve significantly, and prices were difficult to rise and fall. It is expected that stainless steel will maintain a stable operation trend in the short term.

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