According to the price monitoring of SunSirs, stainless steel prices fluctuated narrowly this week. As of June 6, the average daily price of spot 304/2B stainless steel flat plate 1.0*1219*2438 (tolerance 0.91) was 12,207.14 RMB/ton, which was the same as the beginning of the week and down 7.22% year-on-year.

SunSirs shows that nickel and stainless steel prices are basically similar, and nickel and stainless steel prices have fluctuated slightly recently.

Last week, the total inventory of stainless steel was 1.122 million tons, up 2.06% from the previous week, among which the inventory of hot and cold rolled products increased.

In terms of macroeconomics, the results of the tax negotiations between China and the United States were relatively optimistic and slightly exceeded expectations overall, but there is still room for uncertainty in the future; domestic policies promote high-quality development and improve the overall market mentality.

Raw materials: In terms of nickel ore, the mining areas of Sulawesi and Halmahera are still affected by rainfall. In the short term, Indonesian nickel ore remains in a tight spot state. The rumor that Indonesia's nickel ore quota will increase to 320 million tons this year has been disproven. We will continue to pay attention to quota disturbances. In terms of nickel iron, on June 5, Tsingshan nickel iron's purchase price was 940 RMB/nickel, and tens of thousands of tons were traded. In addition, other steel mills had small batches of transactions at 970-975 RMB/nickel.

Supply side: Recently, some steel mills have lowered their production plans for June and July. According to data from Steel Union, my country's stainless steel crude steel production in June was 3.3913 million tons, a month-on-month decrease of 2% and a year-on-year increase of 3%.

Demand side: In the traditional off-season for consumption, downstream demand is weak, market confidence is insufficient, and the purchasing atmosphere is relatively general.

The frequent news of steel mill production cuts has brought certain bottom support to prices, but under the dilemma of poor demand, inventory digestion is slow, and futures prices lack upward drive. It is expected that stainless steel will mainly fluctuate in the range.

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