Price trend

According to the price monitoring of SunSirs, the stainless steel fell slightly this week. As of November 18, the daily average price of spot 304/2B stainless steel plates 1.0 * 1219 * 2438 (tolerance 0.91) was 15,607.14 RMB/ton, down 1.73% from the price of 15,881.43 RMB/ton at the beginning of the week, and down 11.86% year on year.

According to the price difference analysis tool of SunSirs, the recent trend of nickel and stainless steel prices was consistent, and the change of stainless steel prices was relatively gentle.

Analysis review

This week's stainless steel inventory totaled 671,820 tons, down 3.32% from last week. Among them, the cold rolled inventory rose while the hot rolled inventory declined.

In terms of supply and demand, upstream nickel prices rose sharply and fell sharply, while stainless steel prices were relatively stable. Near the end of the year, due to the capital flow, downstream enterprises had reduced their own inventory pressure. In addition, the domestic sales and export sales this year were much worse than before. The demand continued to hover at a low level, while the spot price of stainless steel fluctuated mostly. Traders and downstream enterprises had a strong wait-and-see attitude, and purchased just in needed.

Market outlook

To sum up, the heat of stainless steel schedule production in November has not faded, and the price of ferronickel has temporarily remained high. The nickel price of upstream raw material is relatively strong, and the current downstream demand is weak, transaction is poor. Without demand support, it is expected that the trend of stainless steel will mainly be weak in shock.

If you have any questions, please feel free to contact SunSirs with support@sunsirs.com