SunSirs: Stainless Steel Prices Fell Slightly on November 1
November 02 2021 13:37:58 SunSirs (John)
Price trend
According to the price monitoring of SunSirs, on November 1, the price of stainless steel was currently quoted at 21,266.67 RMB/ton, down 0.47% from the previous trading day and up 47.17% from the beginning of the year.
Analysis review
The trend of electricity curtailment and production reduction in stainless steel mills has slowed down. From November 1st, Fujian province has suspended orderly electricity consumption, and stainless steel has declined as a whole. Now it is the rainy season in Indonesia, and there is little room for ferronickel materials to fall sharply, which still supports the cost of stainless steel.
Market outlook
Now that the epidemic situation has risen and demand may weaken, stainless steel still maintains a trend of volatility and weakness in the short term.
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