SunSirs: Stainless Steel Fell Weakly This Week (June 13-17)
June 20 2022 11:11:33 SunSirs (John)
Price trend
According to the price monitoring of SunSirs, stainless steel fell weakly this week. As of June 17, the daily average price of spot 304/2B stainless steel flat plate 1.0*1219*2438 (tolerance 0.91) was 16,905 RMB/ton, compared with the price of 17,467.5 RMB/ton at the beginning of the week, down 3.22%, and up 9.95% year-on-year.
According to the price difference analysis tool of SunSirs, the recent spot stainless steel and nickel prices were relatively weak, and the price of stainless steel fell more sharply.
Analysis review
Recently, the price limit of steel mills was loosened, the spot price of stainless steel continued to fall, and the market inquiries and purchases were cold.
This week, with the downward trend of stainless steel futures and the relaxation of steel mills' price-preserving mentality, the price drop far exceeded the expectations of merchants. In order to maintain normal operations, the transaction was basically in a loss state, so the transaction was mainly based on low-priced resources.
The current stainless steel social pool is still at a high level, waiting to be digested by the downstream. The latest transaction price of ferronickel at the stainless steel raw material end continues to decline, and the cost support is further weakened.
Market outlook
Although steel mills have reduced production, the current inventory pressure remains unchanged. It is expected that stainless steel prices will remain volatile and weak.
If you have any questions, please feel free to contact SunSirs with support@sunsirs.com
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