SunSirs: Stainless Steel Slightly Declined This Week (May 15-19)
May 23 2023 09:42:48 SunSirs (John)
Price trend
According to the price monitoring of SunSirs, stainless steel slightly declined this week. As of May 19th, the daily average price of spot 304/2B stainless steel flat plates 1.0 * 1,219 * 2,438 (with a tolerance of 0.91) was 13,878.57 RMB/ton, a decrease of 1.92% from 14,150 RMB/ton at the beginning of the week and a year-on-year decrease of 22.35%.
According to the price difference analysis tool of SunSirs, the price trends of nickel and stainless steel were basically consistent, with both nickel and stainless steel prices experiencing a weak decline in recent times.
Analysis review
This week, the total inventory of stainless steel was 1.0906 million tons, a decrease of 3.08% compared to last week, with both cold rolled and hot rolled inventories showing a decrease.
In May, the steel factory's production schedule reached a new high, but the actual production may not be as expected. As resources arrived in transit, supply pressure gradually emerged. The overall performance of stainless steel terminal demand in the first quarter was lackluster, with no significant difference between peak and low seasons. It is expected that stainless steel demand will maintain a weak recovery state in May, and it is difficult to see a significant rebound.
Market outlook
It is expected that stainless steel demand will maintain a weak recovery state in May, and it is difficult to see a significant rebound. It is expected that stainless steel will remain weak in the short term. Market arrivals have increased, and inventory digestion is being tested. In May and June, the industrial supply will be strengthened and demand will be weak, and it is expected that stainless steel prices will be mainly under pressure.
If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.
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