SunSirs: On the 3rd, the Power Limit Was Relaxed, and the Price of Stainless Steel Fell Slightly
November 04 2021 13:30:09 SunSirs (John)
Price trend
According to the price monitoring of SunSirs, on the 3rd, the price of stainless steel was currently quoted at 20,733.33 RMB/ton, down 2.51% from the previous trading day and up 43.38% from the beginning of the year.
Analysis review
Stainless steel continued to fall weakly on the 3rd. Due to the relaxation of power curtailment, the production capacity of steel mills in Jiangsu and Fujian has gradually recovered and the supply has been loose.
According to the customs, the total domestic stainless steel exports in September was about 369,500 tons, an increase of 32,300 tons from the previous month, an increase of 9.57%; the total social inventory of stainless steel was 645,600 tons, a decrease of 1.79% from the previous week.
Market outlook
Downstream demand is general, traders cut prices slightly, and stainless steel will still maintain a weak trend in the short term.
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