SunSirs: Stainless Steel Prices Had Slightly Increased This Week (April 15-19)
April 24 2024 10:01:55 SunSirs (John)
Price trend
According to the price monitoring of SunSirs, the price of stainless steel had slightly increased this week. As of April 19th, the daily average price of spot 304/2B stainless steel flat plates 1.0 * 1219 * 2438 (with a tolerance of 0.91) was 13,164.29 RMB/ton, an increase of 1.88% from the beginning of the week and a year-on-year decrease of 8.76%.
Analysis review
According to the price difference analysis tool of SunSirs, nickel and stainless steel prices were similar. The price of nickel had affected the price of stainless steel, with a slight increase recently.
This week, the total inventory of stainless steel was 116.1529 tons, a decrease of 1.91% compared to last week, with both cold and hot rolled inventories falling.
The profit losses of domestic nickel iron factories had intensified, and production had declined. After the steel mills resumed production in March, the production schedule for the 300 series declined in April. In terms of demand, automobiles, household appliances, and ships had performed well, with overall demand slightly improving but with limited incremental growth, and the sustainability remained to be seen. Under the early resumption of production, there was temporarily no trend of destocking social inventory.
Market outlook
It is expected that stainless steel will mainly fluctuate to be stronger.
If you have any questions, please feel free to contact SunSirs with support@SunSirs.com.
