SunSirs: Stainless Steel Prices Had Slightly Decreased This Week (November 14-18)
November 19 2024 09:24:39 SunSirs (John)
Price trend
According to the price monitoring of SunSirs, the price of stainless steel had slightly decreased this week. As of November 15th, the daily average price of spot 304/2B stainless steel flat plate 1.0 * 1219 * 2438 (tolerance 0.91) was 12,507.14 RMB/ton, a decrease of 1.13% from the beginning of the week and a year-on-year decrease of 5.81%.
According to the price difference analysis tool of SunSirs, the prices of nickel and stainless steel were basically similar, with a slight decline recently.
Analysis review
This week, the total inventory of stainless steel was 97.25 tons, a decrease of 0.97% compared to last week. Among them, cold-rolled inventory decreased while hot-rolled inventory increased.
From an upstream perspective, Indonesia's nickel iron production increased significantly in October, and new production lines continue to be under construction. We need to be vigilant about the risk of nickel iron surplus. With the loosening of raw material prices, the price support for stainless steel finished products was insufficient.
From the perspective of supply and demand, the production of stainless steel crude steel in November was 3.3582 million tons, an increase of 2.05% month on month. There were not many arrivals in the market this week, and domestic agents were offering discounts to accept orders. The market had seen an increase in low-priced goods, and downstream customers purchased goods on demand.
Market outlook
Under the current situation of weak and stable operation of raw material prices under pressure, the market and social inventory pressure have eased to some extent. In the future, it is still necessary to pay attention to the actual production schedule and arrival situation of steel mills. Due to cost considerations, the short-term space for stainless steel to move up and down is limited. It is expected that stainless steel prices will remain weak and stable in the short term.
If you have any enquiries or purchasing needs, please feel free to contact SunSirs with support@sunsirs.com.
