SunSirs: Stainless Steel Prices Fell Slightly by 0.75% This Week (11.4-11.8)
November 11 2019 14:11:03 SunSirs (John)
Price trend
According to the data monitoring of SunSirs, as of November 8, the daily average price of 304/2B stainless steel plate 1.0*1219*2438 (tolerance 0.91) was 14214.29 RMB/ton (including tax), compared with 14321.143 RMB/ton on November 4th (including Tax) fell slightly by 0.75%.
Analysis review
Industry chain: Nickel price fell slightly this week. As of the end of the week, the overnight LUNI nickel rose and fell to close at $16215, down 0.09%. Stainless steel prices have been weak this week.
Price adjustment of steel plant: Weekly price of Wuxi Jiugang (11.5-11.11): the base price of 304 cold rolling trimming is 15950 RMB/ton; the link ratio is reduced by 100 RMB/ton; the base price of 430 cold rolling is 8300 RMB/ton; the link ratio is flat. Ningbo Baoxin's ex-factory offer price (tax included) notice in August 2019: the price of 304 cold rolling is 16000 RMB/ton, a month on month increase of 1200 RMB/ton; the price of 430 cold rolling is 9700 RMB/ton, a month on month flat offer price compared with July.
Industry trends: in September, the volume of stainless steel products exported from mainland China to the United States was about 4000 tons (about 1.2% of the total domestic exports), with a month on month increase of 300 tons, an increase of 8.3%; the year-on-year decrease of 2000 tons, a decrease of 34%. In September, the volume of stainless steel products exported from mainland China to the United States was about 12500 tons, with a decrease of 1000 tons or 7.6% on a month on month basis, and a decrease of 200 tons or 1.2% on a year-on-year basis.
Market outlook
Nickel price fell, coupled with high stainless steel inventory and weak demand, stainless steel is expected to maintain weak operation in the short term.
If you have any questions, please feel free to contact SunSirs with marketing@sunsirs.com.
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