Price trend

According to the price monitoring of SunSirs, on the 26th, the spot price of 304, 1.0 48-foot stainless steel flat plate was 18,481.67 RMB/ton, which was the same as the price of the previous day and increased by 34.58% year-on-year.

Analysis review

Under the influence of the epidemic, demand was weak and logistics was hindered. Last week, the social inventory of stainless steel was piled up again. Stainless steel is currently supported by cost. High overseas prices combined with the devaluation of the renminbi may further promote stainless steel exports. Merchants who were originally optimistic about the purchase demand before the May 1st holiday had also become increasingly pessimistic due to the repeated epidemic. At present, raw materials are in short supply, but the market inventory is too large, and the downstream demand is relatively deserted.

Market outlook

It is expected that the stainless steel market will mainly run on the weak side.

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