Price trend

According to the price monitoring of SunSirs, the price of stainless steel fluctuated and fell in June. The price of stainless steel at the beginning of the month was 19,633.33 RMB/ton, and the price of stainless steel fell to 17,620 RMB/ton at the end of the month, with an overall decrease of 10.25% and a year-on-year increase of 2.84%.

Analysis review

According to the data of SunSirs, the upstream nickel price and stainless steel trend were similar, but the nickel price changed more widely.

According to the data of SunSirs, the upstream of stainless steel fell as a whole. Scrap fell by the same amount as stainless. For the upstream nickel, due to the macro negative, the inventory continued to be low, the supply was gradually loose, and the demand was weak, and the nickel price fell deeply in June.

In June, compared with raw material nickel, the spot market price of stainless steel was relatively firm. In the context of high-priced raw materials, most of the steel mills are currently facing losses, and stainless steel companies have made certain production cuts. There is a lot of social inventory accumulation to be digested, the overall downstream and terminal demand is still not good, customer purchases are reduced, and the current inventory pressure is not reduced. At the end of the month, the cost of raw materials continued to decline, and the price of stainless steel also fell.

Market outlook

To sum up: In June, raw material costs were high, downstream demand was weak, and stainless steel prices were in a dilemma. Steel mills were at a loss, and stainless steel companies had some support for production cuts. Recently, there were still supply of goods in the domestic market one after another. In July, the traditional demand is low season, and the demand is difficult to improve. It is expected that the price of stainless steel will remain weak.

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