SunSirs: Stainless Steel Slightly Increased This Week (August 7-11)
August 14 2023 10:32:21 SunSirs (John)
Price trend
According to the price monitoring of SunSirs, stainless steel first fell and then rose this week. As of August 11th, the daily average price of spot 304/2B stainless steel flat plates 1.0 * 1219 * 2438 (with a tolerance of 0.91) was 13,921.43 RMB/ton, an increase of 0.34% compared to 13,874.29 RMB/ton at the beginning of the week, and a year-on-year decrease of 7.38%.
Analysis review
According to the price difference analysis tool of SunSirs, the price trends of nickel and stainless steel were mostly similar, with some deviation in the recent price trends of nickel and stainless steel.
This week's total stainless steel inventory was 98.78 tons, a decrease of 1.7% compared to last week, with both cold rolled and hot rolled inventories showing a slight decline.
The steel factory maintained a relatively high production schedule in July, but it controlled the pace of shipment and had limited resources for arrival. Although there was some improvement in overall market transactions recently, the transmission of demand to terminals was still limited, demand was tepid and there was no traditional peak season centralized stocking. This week, due to the high demand for futures orders in the early stages and the digestion of resources in transit, coupled with a relatively small number of deliveries within the week, the national stainless steel social inventory was mainly digested.
Market outlook
It is expected that stainless steel will mainly fluctuate to be stronger in the short term.
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