SunSirs: Stainless Steel Prices Rose Slightly on the 6th
January 07 2022 14:33:34 SunSirs (John)
Price trend
According to the price monitoring of SunSirs, the price of stainless steel rose slightly, and the spot price was reported at 17,666.67 RMB/ton, an increase of 0.95% from the previous trading day.
Analysis review
Recently, the stainless steel spot rebounded slightly. The prices of high-grade ferro-nickel and scrap steel at the raw material end were raised, nickel prices fluctuated at a high level, and prices of high-carbon ferrochromium remained weak. The crude steel production schedule in January is expected to drop by 13.26%.
The marginal improvement of real estate completion, the seasonal demand is off-season, and centralized procurement has basically ended. Social inventories have fallen for 5 consecutive weeks, supporting stainless steel prices.
Market outlook
Stainless steel is expected to fluctuate mainly within a narrow range.
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