SunSirs: The Price of Stainless steel is fluctuating Slightly on September 18
September 19 2019 16:16:39 SunSirs (John)
1. the price trend
According to the price monitoring of SunSirs, as of September 18, the daily average price of 304/2B stainless steel plate 1.0*1219*2438 (tolerance 0.91) was 14135.71 RMB/ton (including tax), up 0.2% from 14107.14 RMB/ton (including tax) of the previous day.
- Analysis review
On the upstream side, worries at the mining end have gradually subsided in recent days, and nickel prices have been adjusted with the decline of sentiment. The continued weakness of downstream consumption has also led to a weak rise in nickel prices. At present, ferronickel transactions are active. Most ferronickel factories have placed orders until September. The short-term supply of ferronickel is relatively tight, but the production capacity of ferronickel will be released centrally from October. In terms of inventory, as of September 12, Wuxi and Foshan had 588,000 tons of stocks, and stainless steel stockpiles were constantly at a historic high level. On the demand side, although in the peak season of September, the peak season is not strong and the demand is still not good.
- Market outlook
The supply side still has some support for stainless steel, but the demand is not good and the stock is high. It is expected that stainless steel will remain stable for a short time, with small fluctuations.
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