SunSirs: Stainless Steel Spot Prices Fell on July 27
July 28 2022 10:14:36 SunSirs (John)
Price trend
According to the price monitoring of SunSirs, on the 27th, the spot price of 304, 2.0 four-foot rolls was 16,940 RMB/ton, down 0.82% from the previous trading day and down 15.78% year-on-year.
Analysis review
Recently, the spot price of stainless steel has fallen slightly recently. The upstream nickel fluctuated widely, and the price of stainless steel was relatively stable. Now is the off-season of consumption, downstream demand has not increased significantly, inquiries and transactions are sluggish, and Tsingshan's price adjustment has fallen again, which also affects the market sentiment to a certain extent. Spot prices did not see a deep drop as traders' inventories were not high. However, in the falling price market, downstream purchases are mainly based on wait and see, and the actual transaction has a certain price reduction.
Market outlook
It is expected that the price of stainless steel will still fluctuate weakly.
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