Price trend

According to the price monitoring of SunSirs, the price of stainless steel rose slightly this week. As of February 24, the daily average price of spot 304/2B stainless steel flat plate 1.0 * 1219 * 2438 (tolerance 0.91) was 15,621.43 RMB/ton, up 0.37% from the price of 15,564.29 RMB/ton at the beginning of the week, and down 10.56% year on year.

According to the analysis tool of the price difference of SunSirs, the price trend of nickel and stainless steel was basically the same, and the price of stainless steel and nickel had deviated recently.

Analysis review

This week's stainless steel inventory totaled 14,106.03 million tons, up 0.7% from last week. Among them, the inventory of both cold rolled and hot rolled warehouse increased.

The scheduling production of 300-series stainless steel in 41 domestic steel plants was 1,582,700 tons in February, up 15.9% month-on-month. In Indonesia, the production schedule in February was expected to be 289,000 tons, up 2% month-on-month. The demand after the Spring Festival was less than expected, and the terminal demand needed time to recover, but the overall positive expectation still existed.

Market outlook

The inventory is high, the demand is expected, and the cost is supported. It is expected that the trend of stainless steel may be dominated by narrow fluctuations in the short term.

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