SunSirs: The Market of Stainless Steel Fluctuated Narrowly This Week (July 31-August 4)
August 08 2023 14:04:11 SunSirs (John)
Price trend
According to the price monitoring of SunSirs, stainless steel fluctuated in a narrow range this week. As of August 4th, the daily average price of spot 304/2B stainless steel flat plates 1.0 * 1219 * 2438 (with a tolerance of 0.91) was 13,785.71 RMB/ton, an increase of 0.05% compared to 13,778.57 RMB/ton at the beginning of the week, and a year-on-year decrease of 10.22%.
Analysis review
According to the price difference analysis tool of SunSirs, the price trends of nickel and stainless steel were mostly similar, with recent fluctuations in nickel and stainless steel prices being the main trend.
This week's total stainless steel inventory was 100.49 tons, a decrease of 0.19% compared to last week. Among them, cold rolled inventory increased and hot rolled inventory decreased.
Production profits had improved, and steel mills maintained high production schedules, but controled the pace of shipments. In July, the 300 series reached 1.677 million tons, an increase of 4.8% month on month and 25.1% year-on-year. Although there was some improvement in overall market transactions recently, the transmission of demand to terminals was still limited, with tepid demand and no traditional peak season centralized stocking.
Market outlook
The typhoon had affected the arrival of raw materials, and domestic stable growth policies had boosted confidence. It is expected that the focus of stainless steel prices will shift upwards.
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