SunSirs: On August 4, the Spot Price of Stainless Steel Was Weak and Stable
August 05 2022 08:28:58 SunSirs (John)
Price trend
According to the price monitoring of SunSirs, on the 4th, the spot price of 304, 2.0 four-foot rolls was 16,690 RMB/ton, which was unchanged from the previous trading day and down 17.92% year-on-year.
Analysis review
On August 4, the price of stainless steel spot was basically flat. The production schedule of stainless steel in August decreased overall, and the 300 series rebounded slightly. Stainless steel inventories fell slightly last week. Recently, due to production cuts and other factors, the inventories have been repeated. However, from a general perspective, the main downstream of stainless steel may not be able to continue to pick up under the current macro situation, superimposed on the increasing trend of overseas supply.
Market outlook
It is expected that the overall price of stainless steel will still fluctuate to be weak.
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