SunSirs: The price trend of stainless steel this week is mainly weak and stable（04/06-04/10）
April 13 2020 09:21:17 SunSirs (Molly)
According to SunSirs price monitoring, as of the weekend, the daily average price of spot 304 / 2B stainless steel flat plate 1.0 * 1219 * 2438 (tolerance 0.91) is now quoted at 11358.33 yuan / ton, down 1.16% from the beginning of the week at 11491.67 yuan / ton, down year-on-year 15.42%.
This week, the stainless steel market is mainly weak and stable. The nickel ore supply in the Philippines was affected by the epidemic, which led to a rebound in nickel prices this week. On the 9th, some domestic stainless steel plants were sealed. Recently, the prices of stainless steel and nickel raw materials have been relatively strong and the prices of finished products have continued to decline. The profit status of stainless steel plants is relatively poor, and stainless steel prices are also supported by certain costs. Stainless steel inventories were digested to a certain extent in late March, and the current inventory pressures have eased. However, affected by the spread of the global epidemic, the export orders of the stainless steel overseas market have shrunk
In summary: the pressure on stainless steel inventories eased in April. However, the overseas epidemic affects export demand. The price of 304 stainless steel may still be mainly weak and volatile. The space below is relatively limited by cost support. Recently, the export of Philippine nickel ore has been restricted. If nickel supply in Indonesia and the Philippines is affected later, stainless steel prices may rebound weakly. But the long-term continued rise is not optimistic.
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