SunSirs: Stainless steel rose slightly by 0.27% this week (5.18-5.22)

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 now quoted at 12566.67 yuan / ton, which is an increase of 0.27% from the beginning of the week at 12533.33 yuan / ton and a year-on-year decrease of 4.38 %.

Market: Nickel prices fluctuated sharply this week. As the weekend approached, Shanghai Nickel fell sharply due to the oolong incident (there is speculation that this market may be a large account cut or oolong index, but from a trading perspective, it is more of a stampede of funds) In addition, spot nickel has also been affected by a significant drop of more than 4 points, but the fundamentals have not changed significantly, and the overall price of stainless steel is relatively stable. Domestic 300 series stainless steel stocks have recorded a decline again, the market is optimistic about the market outlook, forming support for steel prices. However, the decline in foreign trade export orders has begun to appear, which has dragged down the demand outlook. It is still necessary to pay attention to the overseas epidemic situation and restrict the steel price to act. On the spot, traders in the Wuxi market reported a light trading atmosphere, fewer enquiries, and hot rolling was slightly better than cold rolling.

Steel mill price adjustment: Wuxi Jiugang's weekly price (5.19-5.25): 304 cold-rolled trimming base price was reported at 14,200 yuan / ton, which was flat compared to the previous month; 430 cold-rolled base price was reported at 7,200 yuan / ton, which was unchanged from the previous month.

Industry dynamics: Recently, the 1780 hot rolling project has started, and once again welcomes the good news-rough rolling 35KV received power smoothly according to plan. This power reception marks that the 1780 hot rolling project is about to enter the equipment commissioning phase. Regardless of the quality, schedule or construction of standard chemical sites, the project construction has reached a new level on the basis of the past.

In summary: With the continuous impact of the external epidemic situation and the current weakening of stainless steel demand, steel mills are facing losses again, or taking the opportunity to suppress raw material prices.

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