Price trend

According to the price monitoring of SunSirs, on August 3, the spot market price of stainless steel was 20,633.33 RMB/ton, which was the same as the previous day, up 42.79% from the beginning of the year, and up 48.17% year-on-year.

Analysis review

Recently, due to steel mills' production restrictions and strong expectations for further production restrictions, stainless steel prices have soared. On July 30, the Politburo held a meeting to correct the "campaign-style carbon reduction." Next, the production reduction policies in various regions may be appropriately relaxed. After the production limit is corrected, the price of stainless steel may face a fall. The price of stainless steel has risen too fast, and the downstream purchasing power has weakened. In addition, the domestic and foreign spreads have decreased and export orders have been significantly reduced, which put pressure on stainless steel prices. However, it is now before the peak season in the second half of the year, and the demand in the later period is still strong. With the support of costs, the decline may be limited.

Market outlook

It is expected that the stainless steel spot market may maintain a volatile and weak pattern before the peak season in the second half of the year.

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