SunSirs: Stainless Steel Edged Lower This Week (May 9-13)
May 16 2022 14:35:23 SunSirs (John)
Price trend
According to the price monitoring of SunSirs, stainless steel fluctuated and rose this week. As of May 13, the daily average price of spot 304/2B stainless steel flat plate 1.0*1219*2438 (tolerance 0.91) was 18,265 RMB/ton, compared with the price of 18,465 yuan at the beginning of the week, fell 1.08%, and was up 20.23% year-on-year.
Analysis review
According to the price difference analysis tool of SunSirs, the recent spot stainless steel and nickel prices have not been in the same trend. The upstream nickel fluctuated greatly, and the stainless steel price changed less.
Although the total social inventory of stainless steel has declined slightly recently, it is still at a high level. The domestic epidemic has shown a trend of local high concentration and multi-point distribution, which has varying degrees of impact on stainless steel supply, demand, logistics and warehousing, especially on logistics and downstream demand, and the inventory in steel mills continues to increase.
Market outlook
It is expected that the price of stainless steel will remain weak as a whole.
If you have any questions, please feel free to contact SunSirs with support@sunsirs.com
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