Price trend

According to the price monitoring of SunSirs, on the 14th, the average price of stainless steel market was 17,275 RMB/ton, unchanged from the previous trading day, and down 13.27% year on year.

Analysis review

LME decided not to impose a ban on Russian metal, the risk of overseas bulk supply chain was eased, and the upstream nickel price fell. The output of stainless steel had rebounded to a certain extent, the inventory had not changed much, the spot transaction continued to be cold, and the downstream mostly held a wait-and-see attitude. Although the optimization of domestic epidemic prevention and control measures boosted the market confidence, there was still a time lag for the complete recovery of consumption.

Market outlook

In the short term, it is expected that stainless steel will still run weaker.

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