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SunSirs: Stainless Steel Spot Price Stabilized on June 27
June 28 2022 14:44:10SunSirs(John)

Price trend

According to the price monitoring of SunSirs, on the 27th, the spot price of 304, 2.0 four-foot rolls was 17,940 RMB/ton, down 2.07% from the previous trading day and up 4.71% year-on-year.

Analysis review

The price of nickel at the raw material side fell sharply. The supply of ferronickel was excessive, the price of nickel was downward under pressure and the support at the cost side weakened.

Downstream demand was still underperforming. Although inventory had declined slightly, it was mainly due to active shipments by stockholders. The production profits of steel mills were basically in a state of loss, and domestic stainless steel enterprises had reduced production, which had certain support for prices. Recently, there were still supply of goods in the domestic market one after another.

Market outlook

The cost-side support is weakened, and the terminal consumption is weak. It is expected that the price of stainless steel will fluctuate to be weak mainly.

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