Price trend

According to the price monitoring of SunSirs, on March 30, the daily average price of spot 304/2B stainless steel plate 1.0*1219*2438 (tolerance 0.91) was 13,916.67 RMB/ton, which was the same as the previous trading day and increased by 4.77% from the beginning of the year, and an increase of 21.1%year-on-year.

Analysis review

The recent rebound in the spot price of stainless steel is mainly due to the recent rebound in upstream nickel prices, coupled with the domestic electricity curtailment policy in Inner Mongolia and the shortage of non-coke in South China, which affects the production of ferrochrome. The strong price of ferrochromium has strengthened the support of the cost of stainless steel. The inventory of 300 series stainless steel has also continued to decline recently, and the overall market inventory has been well digested, which strongly supports the price of stainless steel.

However, in order to improve performance at the end of the month, the market is actively shipping to return the funds, the actual order may have a small price cut.

Market outlook

SunSirs believes that the stainless steel spot price will be stable in the short term.

If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.