SunSirs: Inventory pressure is heavy, stainless steel fell weakly
March 06 2020 20:37:05 SunSirs (Molly)
According to SunSirs price monitoring, as of the weekend, the average daily price of spot 304 / 2B stainless steel flat plate 1.0 * 1219 * 2438 (tolerance 0.91) is 12,691.67 yuan / ton, which is 1.04% lower than the previous week's 12,825 yuan / ton, and 9.11 year-on-year. %.
Recently, the stainless steel market is weak and stable. Upstream nickel prices have risen this week, but recently the stainless steel market has been trading in poor time, mainly because terminal demand has not fully started, and middlemen are buying on dips and are unwilling to chase up. The downstream operating rate is still low, so market demand needs to be further restored. In order to obtain shipments, some dealers have experienced market bidding, which has led to the repeated decline in cold-rolled prices. In East China, with the return to work in the third week, the average daily turnover of some major market players has returned to two-thirds of normal levels, indicating that the current return to work situation is still acceptable.
To sum up: the complete recovery of the downstream may wait until mid-March, and most regions have high inventory levels, which will continue to increase in the later period, and some large households will have higher inventory pressures. It is expected that the short-term shocks of stainless steel will mainly fall.
If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.
- 2024-04-24 SunSirs: Stainless Steel Prices Had Slightly Increased This Week (April 15-19)
- 2024-04-16 SunSirs: Stainless Steel Prices Had Slightly Decreased This Week (April 8-12)
- 2024-03-27 SunSirs: Stainless Steel Prices Had Slightly Decreased This Week (March 18-22)
- 2024-03-19 SunSirs: Stainless Steel Prices Had Slightly Decreased This Week (March 11-15)
- 2024-03-11 SunSirs: Stainless Steel Prices Had Slightly Decreased This Week (March 4-8)
