SunSirs: Stainless Steel Edged Lower This Week (June 6-10)
June 13 2022 09:11:06 SunSirs (John)Price trend
According to the price monitoring of SunSirs, stainless steel rose first and then fell this week. As of June 10, the daily average price of spot 304/2B stainless steel flat 1.0*1219*2438 (tolerance 0.91) was 7,567.5 RMB/ton, compared with the price of 7,598.33 RMB/ton at the beginning of the week, it fell 0.18%, and it was up 15.34% year-on-year.
Analysis review
According to the spread analysis tool of SunSirs, spot stainless steel and nickel prices have weakened recently.
Stainless steel inventories remained high this week. The spot market has continued to fall in price, and most of the current price steel mills have already faced losses. In the future, the reduction of production by steel mills may increase. At present, the accumulation of social inventory is still waiting to be digested, and the downstream demand has not improved significantly.
At present, the spot price is running weakly and steadily, the overall demand of downstream and terminal is still not good, and customer purchases are reduced.
Market outlook
It is expected that the spot price of stainless steel will still fluctuate to be weak mainly.
If you have any questions, please feel free to contact SunSirs with support@sunsirs.com
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