Price trend

According to the price monitoring of SunSirs, on the 17th, the average price of stainless steel market was 17,325 RMB/ton, down 0.14% from the previous trading day and 11.31% year on year.

Analysis review

After the traditional "golden September and silver October", the stainless steel market demand has entered the off-season. The climate problem in the Philippines led to a continuous decline in the supply of nickel ores. The mining sector had a strong willingness to support the price, and the cost of ferronickel remained high, supporting the price of stainless steel to a certain extent. At the end of the year, the demand for stainless steel was gradually weakening. In addition, the Spring Festival holiday this year is ahead of time, and the epidemic situation is frequent. The stainless steel market was obviously off season.

Market outlook

It is expected that the weak trend of stainless steel will prevail in the short term.

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