SunSirs: Stainless Steel Fell First and Then Rose This Week (May 22-26)
May 30 2023 09:59:43 SunSirs (John)
Price trend
According to the price monitoring of SunSirs, stainless steel fell first and then rose this week. As of May 26th, the daily average price of spot 304/2B stainless steel flat plates 1.0 * 1219 * 2438 (with a tolerance of 0.91) was 13,757.14 RMB/ton, a decrease of 0.41% from the price of 13,814.29 RMB/ton at the beginning of the week and a year-on-year decrease of 22.52%.
According to the price difference analysis tool of SunSirs, the price trends of nickel and stainless steel were basically consistent, and stainless steel was operating with the fluctuation of nickel prices recently.
Analysis review
This week, the total inventory of stainless steel was 1.062 million tons, a decrease of 2.58% compared to last week, with both cold and hot rolled inventories showing a decrease.
In May, the steel factory's production schedule reached a new high, but the actual production may not be as expected. The steel factory controlled shipment and did not see a significant increase in recent arrivals, and spot transactions were average. The inventory in the factory had accumulated, and the social inventory continued to be destocked. In the early stage, stainless steel fell to a low level and there was some rebound demand, but the rebound momentum was insufficient.
Market outlook
It is expected that the stainless steel prices will mainly fluctuate at low levels.
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