SunSirs: Stainless Steel Spot Prices Were Relatively Weak on September 3
September 06 2021 13:41:07 SunSirs (John)
Price trend
According to the price monitoring of SunSirs, on September 3, the stainless steel futures price rose sharply by 5.88%, and the stainless steel spot price was relatively weak.
Analysis review
Stainless steel futures prices rose sharply, mainly due to the impact of production restrictions by many steel mills. Among them, a large stainless steel plant is affected by power restrictions, which affects 30% of the output. In addition, a large southern China steel plant shut down for maintenance on September 4th until September 15th, and then shut down at the end of September until the end of the year. Expectations of supply tightening have led to an increase in stainless steel futures prices.
However, in terms of spot, the downstream demand is weak, and the downstream is not very accepting of the current high prices, and mainly wait-and-see.
Market outlook
The traditional peak season of "Golden September and Silver October" is approaching. Due to the impact of steel mills' production restrictions, it is expected that stainless steel will mainly fluctuate upward in the short term.
If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.
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