SunSirs: The Price of Stainless Steel Was Up Slightly This Week (March 21-25)
March 28 2022 09:18:03 SunSirs (John)
Price trend
According to the price monitoring of SunSirs, the price of stainless steel rose slightly this week. As of March 25, the average price of spot 304/2B stainless steel flat 1.0*1219*2438 (tolerance 0.91) was 19,270 RMB/ton, compared with the price of 18,548.33 RMB/ton at the beginning of the week, up 3.89% and up 39.81% year-on-year.
Analysis review
According to the monitoring of SunSirs, spot stainless steel rose at the same time as nickel prices this week, and nickel prices rose even stronger.
The social inventory of stainless steel decreased this week, and the total social inventory of stainless steel is now 784,000 tons, down 1.12% from the previous week. Due to the impact of the epidemic, inventory digestion is relatively slow. At present, the spot price of stainless steel remains high, and the downstream purchasing intention is not strong. In addition, many places are still under the control of the epidemic, and the incoming and outgoing goods are restricted, and the actual downstream demand is delayed. At present, it is approaching the end of March, and the demand has not been fully released. At present, the production cost of the steel mill is almost at a loss, and there is an expectation of production reduction.
Market outlook
With the gradual recovery of the epidemic, downstream demand may increase, but near the end of the month, merchants enter the stage of capital recovery. It is expected that stainless steel prices may be weak.
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