SunSirs: Stainless Steel Rose Slightly This Week (September 6-10)

Price trend

According to the price monitoring of SunSirs, the price of stainless steel rose slightly this week. As of September 10, the average daily price of spot 304/2B stainless steel plate 1.0*1219*2438 (tolerance 0.91) was 18,056.67 RMB/ton, compared with 17,906.67 RMB/ton at the beginning of the week, it rose 0.84%. It was up 35.93% from the beginning of the year, and up 31.7% year-on-year.

According to the spread analysis tool of SunSirs, the price of futures stainless steel and the upstream futures nickel were basically the same. Generally, nickel was the first, and the adjustment of stainless steel followed closely.

Supply side

Recently, news of stainless steel production restrictions has continued, which has triggered market concerns about supply tightening and boosted stainless steel futures prices to continue to rebound. In July, my country's stainless steel production declined; in August, the stainless steel production schedule declined slightly; in September, the stainless steel production schedule further declined, with relatively small changes.

Export side

In July, the domestic export of stainless steel plate and coils dropped significantly. Domestic stainless steel exports fell sharply by 15.8% month-on-month, mainly cold-rolled coils and hot-rolled coils, and exports shifted to domestic sales.

Demand side

September-October is the traditional peak consumption season, and the future market still depends on changes in overall stainless steel demand.

Stainless steel inventory declined

As of the weekend, the total national stainless steel stocks totaled more than 717,000 tons, a weekly increase of 0.05%%.

Market outlook

To sum up: under the policy of limited production and electricity, many factories plan to overhaul, and the price of stainless steel has risen. The traditional peak season is approaching, and exports have not risen significantly. It is expected that stainless steel will continue to oscillate mainly in the short term.

If you have any questions, please feel free to contact SunSirs with suooort@sunsirs.com.