Price trend

According to the price monitoring of SunSirs, stainless steel was mainly adjusted slightly this week. As of July 22, the daily average price of spot 304/2B stainless steel flat plate 1.0*1219*2438 (tolerance 0.91) was 15,811.25 RMB/ton, down 0.08% from 15,823.75 RMB/ton at the beginning of the week and down 9.12% year-on-year.

Analysis review

According to the spread analysis tool of SunSirs, the spot price of nickel has rebounded sharply recently, and the price of stainless steel is relatively stable.

This week's stainless steel social inventory and in-transit inventory totaled 924,100 tons, an increase of 34,000 tons from last week and a week-on-week increase of 3.82%. The upstream nickel price bottomed out, which provided some support for stainless steel prices. At present, due to factors such as the reduction of production by steel mills and the price limit of steel mills, the overall market is willing to support prices, but the resources of steel mills will arrive one after another next week, and the inventory will increase. Downstream demand is still in a weak state, mostly just-needed purchases. At present, stainless steel maintains a weak supply and demand pattern, coupled with the settlement near the end of next week, the price of stainless steel is likely to drop slightly.

Market outlook

It is expected that stainless steel will mainly decline weakly in the short term.

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