SunSirs: On the 15th, the Cost Dropped, and the Price of Stainless Steel Continued to Be Weak
November 16 2021 13:23:18 SunSirs (John)
Price trend
According to the price monitoring of SunSirs, on the 15th, the price of stainless steel fell slightly. The spot price was 19,986.67 RMB/ton, down 0.83% from the previous trading day and up 37.49% from the beginning of the year.
Analysis review
Stainless steel prices continued to fall weakly on the 15th.
On the supply side, power cuts in various regions were relaxed, and the production schedule of stainless steel crude steel in November increased by 14.39% month-on-month.
On the demand side, the traditional peak season has passed, the speed of inventory depletion has slowed, and the willingness of downstream companies to prepare for inventory is low, most of them are just for bargain hunting, and there is a strong wait-and-see atmosphere.
In terms of cost and profit, the prices of raw materials and energy have fallen, and the production costs of steel mills have fallen.
Market outlook
Sluggish demand coupled with resumption of production, the stainless steel spot market is expected to continue to be weak.
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