Price trend

According to the price monitoring of SunSirs, stainless steel fell slightly this week. As of August 19, the daily average price of spot 304/2B stainless steel flat plate 1.0*1219*2438 (tolerance 0.91) was 14,805 RMB/ton, down 0.84% from 14,930 RMB/ton at the beginning of the week and down 15.99% year-on-year.

Analysis review

According to the spread analysis tool of SunSirs, the spot prices of nickel and stainless steel fell weakly recently.

This week's stainless steel inventory totaled 881,300 tons, up 3.3% from last week, of which cold-rolled and hot-rolled inventories both rose slightly.

Upstream nickel prices edged lower this week. In terms of supply, 40 domestic stainless steel plants initially scheduled crude steel production of 2.4254 million tons in August, which is expected to decrease by 3.6% month-on-month and 17.6% year-on-year. Among them, 1.3774 million tons of 300 series, a month-on-month increase of 2.8%, a year-on-year decrease of 10.9%. Recently, Indonesian stainless steel resources have arrived at the port one after another, and it is necessary to closely follow the dynamics, which may have an impact on the market.

Overall demand was slightly weaker. The recovery of real estate is slow, and the consumption of related household appliances and elevators has improved accordingly, but the overall situation is weak year-on-year. Pay attention to the renovation policy of old communities. The demand for construction machinery and energy and chemical equipment has a certain degree of resilience; automobile production has steadily increased; overseas interest rates have increased, demand has weakened, and export orders have declined.

Market outlook

It is expected that stainless steel will remain weak in the short term.

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