SunSirs: Stainless Steel Slightly Increased This Week (June 5-9)
June 14 2023 13:50:42 SunSirs (John)
Price trend
According to the price monitoring of SunSirs, stainless steel had slightly increased this week. As of June 9th, the daily average price of spot 304/2B stainless steel flat plates at 1.0 * 1219 * 2438 (tolerance 0.91) was 13,907.14 RMB/ton, an increase of 0.46% from 13,842.86 RMB/ton at the beginning of the week and a year-on-year increase of 21.28%.
Analysis review
According to the price difference analysis tool of SunSirs, the price trends of nickel and stainless steel were basically consistent, with some deviation in the recent prices of stainless steel and nickel.
This week's total stainless steel inventory was 989,900 tons, a decrease of 3.4% compared to last week, with both cold rolled and hot rolled inventories showing a decrease.
In May, the production reached a new high, while in June, it maintained a high production schedule. In the off-season, market transactions were poor, and the supply and demand margin weakened. There was a slight profit in production, and there was a risk of weakening in the raw material end. The steel factory controlled the pace of shipment and reduced the inventory, but the inventory was accumulating and there was no significant improvement in demand.
Market outlook
It is expected that the price of stainless steel will mainly fluctuate in a narrow range.
If you have any questions, please feel free to contact SunSirs with support@SunSirs.com.
