SunSirs: Production Cuts Were Less Than Expected, Stainless Steel Prices Weakly Fell
October 14 2021 13:37:40 SunSirs (John)
Price trend
According to the price monitoring of SunSirs, the price of stainless steel fell slightly on the 13th, with a price of 21,733.33 RMB/ton, a slight decrease of 0.91% from the previous trading day and an increase of 50.4% from the beginning of the year.
Analysis review
Previously, due to the impact of power restrictions and production restrictions, the price of stainless steel once jumped to an annual high, but the actual reduction in production was less than expected. At present, the profit of stainless steel is considerable, and the stainless steel plant is actively engaged in production, and the stainless steel spot resources in the subsequent market will definitely increase.
Recently, downstream demand has not been satisfactory, and inventories have increased for two consecutive weeks. The stainless steel plant gradually resumed production in October, and the output has increased compared with September, and the downstream demand has not improved significantly.
Market outlook
It is expected that the price of stainless steel will fluctuate mainly in the short term
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