Price trend
According to the price monitoring of SunSirs, on the 8th, the spot price of stainless steel was 20,333.33 RMB/ton, down 0.33% from the previous trading day and up 40.72% from the beginning of the year.
Analysis review
On the 8th, stainless steel rose and fell mixed, and the price was relatively messy.
Upstream nickel rose slightly, but downstream demand was not good, and market transactions were not smooth. Some traders chose to adjust prices to promote transactions. In fact, they mostly sold at low-price.
Electricity restrictions were relaxed everywhere, and crude steel production in November was scheduled to increase by 14.39% from the previous month.
Market outlook
It is expected that stainless steel will still be adjusted in a narrow range in the short term.
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