Price trend

According to the price monitoring of SunSirs, on the 18th, the spot price of 304, 1.0 48-foot stainless steel flat plate was 18,398.33 RMB/ton, which was unchanged from the previous day and increased by 33.32% year-on-year.

Analysis review

The epidemic situation in Wuxi and Foshan was still severe. The epidemic affected the transportation of raw materials and the output of finished products in the short term. The slowdown in shipments caused social inventories to continue to build up warehouses. Under the strict implementation of prevention and control policies, demand might not be substantially improved, some downstream operations was suspended, the increase in demand might stop in the short term, and the peak demand might be delayed. However, there was also a certain impact on the supply side. The production of the Puxiang’s cold rolling production line in Zhangjiagang was suspended, which might affect the supply of 300 series products. Stainless steel stocks rebounded.

Market outlook

In the case of weak supply and demand, the stainless steel market is expected to be stable.

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