SunSirs: The Price of Stainless Steel May Rose in February
February 01 2023 14:51:05 SunSirs (John)
Price trend
According to the price monitoring of SunSirs, the price of stainless steel rose slightly in January. The price of stainless steel at the beginning of the month was 15500 RMB/ton, and the price of stainless steel at the end of the month rose to 15,814.29 RMB/ton, an overall increase of 2.03%, and down 5.29% year on year.
Analysis review
According to the data of SunSirs, the price of stainless steel in January was stronger than that of nickel in the upstream.
According to the monitoring data of SunSirs, the upstream of stainless steel had increased except nickel, while the price of stainless steel was relatively strong due to the impact of cost and production reduction of steel mills.
Stainless steel inventory: In January, due to the Spring Festival, stainless steel inventory accumulated. By the end of the month, the total inventory of stainless steel was 1,157,000 tons.
Fundamentals: In January, after the Spring Festival holiday, the pace of market sales stagnated, and there was no obvious consumption of spot resources. The agent is on holiday, and the resources of the large factory are delivered by rail, but the agent basically does not pick up the goods, presenting the accumulation of resources in front of the steel factory.
Market outlook
To sum up: after the holiday, with the resumption of work and production of the factory, the epidemic situation will be released, and the demand for the new year will be expected due to the macro positive factors. In January, the production of steel plants was still reduced, and the price of stainless steel is expected to rise in February.
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