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SunSirs: Stainless Steel Prices Fell Slightly on March 3
March 04 2021 14:00:01SunSirs(John)

Price trend

According to the price monitoring of SunSirs, on March 3, the average daily price of spot 304/2B stainless steel plate 1.0*1219*2438 (tolerance 0.91) was 14,600 RMB/ton, down 0.96% from 14,741.67 RMB/ton on the previous trading day. It was up 9.91% from the beginning of the year and 13.84% year-on-year.

Analysis review

After the Spring Festival, stainless steel rose sharply and then fell slightly. The main reason was that the raw material nickel price rose sharply and then fell back. The price of stainless steel lagged behind, and then the price of stainless steel also fell slightly. At present, the downstream receiving capacity of stainless steel is not high, and the inventory of each agent is sufficient, the demand is slowing down, and the merchants are making profits to ship. However, the quotation of ferronickel has risen rapidly, and although stainless steel inventories have risen, the end demand has recovered quickly.

Market outlook

Generally speaking, the macro bullish factors still exist, the fundamentals continue to improve, and stainless steel is still optimistic. Nickel prices are picking up slightly. It is expected that the spot price of stainless steel will fluctuate at high level in the short term.

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