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SunSirs: Stainless Steel Spot Prices Fell Slightly on May 5
May 06 2022 09:31:08SunSirs(John)

Price trend

According to the price monitoring of SunSirs, on the 5th, the spot price of 304, 1.0 48-foot stainless steel flat plate was 18,315 RMB/ton, down 0.09% from the previous day and up 31.92% year-on-year.

Analysis review

The price of stainless steel was generally stable. Under the influence of the epidemic, the short-term demand for stainless steel has been sluggish recently, and the 300-series social inventory has accumulated in the warehouse, but the price of steel was obviously supported by the cost.

The combination of high overseas prices and the devaluation of the RMB may further promote the export of stainless steel. In the future, with the improvement of the epidemic situation and a series of measures to stabilize growth, the demand for stainless steel is expected to pick up.

The total stainless steel stock and in-transit inventory was 935,400 tons, an increase of 51,800 tons from last week and a week-on-week increase of 5.86%. This week's sea drift and social inventory both increased week-on-week.

Market outlook

It is expected that the stainless steel market will maintain a narrow range of fluctuations.

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