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SunSirs: Stainless Steel Was Up Slightly This Week (April 4-8)
April 11 2022 10:55:06SunSirs(John)

Price trend

According to the price monitoring of SunSirs, stainless steel rose slightly this week. As of April 8, the price of spot 304/2B stainless steel flat 1.0*1219*2438 (tolerance 0.91) was 18,831.67 RMB/ton, up 0.44% from 18,748.33 RMB/ton at the beginning of the week, and an increase of 39.81% year-on-year.

Analysis review

According to the monitoring data of SunSirs, the spot prices of stainless steel and nickel had the same trend this week, with slight fluctuations.

This week, the social inventory of stainless steel was slightly accumulated, and the total social inventory of stainless steel was 834,900 tons, a week-on-week increase of 5.86%.The arrival of stainless steel social inventory was relatively obvious. Due to the epidemic control, some markets are still in the control stage at the beginning of the week. At the same time, some markets are gradually unblocked. Wuxi Dongfang Steel City was officially unblocked and opened on the 7th, only for one day, and then the epidemic was discovered again, some markets were closed again, and some traders did not offer quotations for the time being. Many traders placed orders from the Wuxi market in the early stage, but they are still pending delivery due to the impact of the epidemic.

Market outlook

It is expected that the overall price of stainless steel will remain stable.

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