Price trend

According to the price monitoring of SunSirs, on May 25, the average daily price of spot 304/2B stainless steel plate 1.0*1219*2438 (tolerance 0.91) was 15,275 RMB/ton, which was the same as the previous trading day, and increased by 14.99% from the beginning of the year, and  a year-on-year increase of 21.55%.

Analysis review

Recently, the upstream nickel mainly fluctuated at a low level, and the price of stainless steel was showing a weak and stable trend. The price of nickel ore in the Philippines was stable, and some mainstream steel mills increased their periodic purchases. The latest average price of ferronickel remained stable. Ferrochrome still has certain production restriction arrangements in the future, and the power supply measures in the production area may still affect production. The profit of stainless steel improved, but the trading of stainless steel declined due to the adjustment of peripheral industrial products. Near the end of the month, merchants are sprinting performance, and some traders ship at low prices, but stainless steel inventory is at a low level, which supports stainless steel market.

Market outlook

Stainless steel prices are expected to remain weak and stable in the short term.

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