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SunSirs: Stainless Steel Prices Fell Slightly by 0.1% Due to The Decline in Nickel Prices (September 2-6)

2019-09-11 15:54:30     SunSirs (John)

  1. the price trend

  The price trend of stainless steel

  According to the price monitoring of SunSirs,, the daily average price of 304/2B stainless steel plate 1.0*1219*2438 (tolerance 0.91) is 14157.14 RMB/ton (including tax) as of September 6, Which fell slightly by 0.1% compared with 14171.43 RMB/ton on the 2nd (including Tax).

  The price trend of upstream nickel

  According to the nickel price monitoring of SunSirs, the price of nickel rose first and then fell this week. The spot price of nickel on September 6 was 14,450 RMB/ton, up 0.06% from 141,366.67 RMB / ton at the beginning of the week.

  2.Analysis review

  Industry chain: Upstream nickel rose by nearly 10% on Monday, then slightly declined, driven by nickel prices, stainless steel prices rose sharply at the beginning of the week, followed by a slight decline. On the demand side, according to the trader's reaction, the price of stainless steel has risen, but it can not sell real goods, and the demand is not good.

  Steel mill price adjustment: Wuxi JiuGang Steel (9.3-9.9) weekly price: 304 cold-rolled trimming base price of 16150 RMB/ton; ring-to-ring flat plate; 430 cold-rolled base price of 8200 RMB/ton, an increase of 100 RMB/ton month-on-month. Ningbo Baoxin's August 2019 ex-factory price (including tax price) notice: 304 cold-rolled 16,000 RMB/ton, an increase of 1,200 RMB/ton month-on-month.; 430 cold-rolled 9,700 RMB/ton, which is flat compared with July's price.

  Industry dynamics: Citigroup raised its forecast price of nickel, saying that prices of nickel must be at a higher level to encourage producers to increase output to offset the impact of Indonesia's nickel ore export ban. Citigroup expects an average nickel price of $17,500 per ton in the coming year and $17,000 per ton in 2021, higher than previously expected of $14,000. Stainless steel futures will be listed on September 25.

  3.Market outlook

  Indonesia's ban on mining has led to strong expectations for a reduction in the supply of electrolytic nickel and high prices, which have made it difficult for stainless steel prices to fall sharply even in the face of sluggish demand. Now the high nickel price shocks, entering the peak demand season of September and the demand is expected to rebound. It is expected that the prices of stainless steel will be shocking at its high price levels in short-term.

  If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.