SunSirs: The Price of Stainless Steel Rose Slightly on January 4
January 05 2023 11:04:54 SunSirs (John)
Price trend
According to the price monitoring of SunSirs, on the 4th, the average price of stainless steel market was 17,325 RMB/ton, up 0.29% from the previous trading day and down 1% year on year.
Analysis review
In the spot market, Foshan has an early holiday, and the replenishment is coming to an end. Wuxi will have another replenishment after New Year's Day and before the Spring Festival. 300 series orders are in good condition, and the demand is optimistic after the festival. The social inventory shows that there is still a large amount of accumulated inventory in Wuxi and Foshan. At present, there is not much change in the policy. Because of the high price of raw materials, the steel mill is still losing money, and the supply and demand are weak before the festival. The loss of steel mills has intensified, and the space for stainless steel to fall sharply again in the short term is limited, and the raw material side has support for stainless steel.
Market outlook
It is expected that the trend of stainless steel will be stronger in shock in the short term.
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