SunSirs: Stainless Steel Slightly Declined This Week (June 19-25)
June 26 2023 14:58:12 SunSirs (John)
Price trend
According to the price monitoring of SunSirs, stainless steel slightly declined this week. As of June 25th, the daily average price of spot 304/2B stainless steel flat plates 1.0 * 1219 * 2438 (with a tolerance of 0.91) was 13,707.14 RMB/ton, a decrease of 1.39% from the 13,900 RMB/ton at the beginning of the week and a year-on-year decrease of 18.49%.
Analysis review
According to the price difference analysis tool of SunSirs, the price trends of nickel and stainless steel were basically the same, with both nickel and stainless steel experiencing a recent decline.
This week's total stainless steel inventory was 100.5 tons, an increase of 2.32% compared to last week, with both cold rolled and hot rolled inventories showing an increase.
The production profit improved, with the steel factory's production schedule reaching a new high in May and maintaining a high production schedule in June. Steel mills controlled shipments, and the market was not abundant in spot resources. Entering the traditional hot off-season, market transactions were flat. However, currently, traders have limited resources, and if confidence stabilizes, there may be a concentrated replenishment market.
Market outlook
In the context of weak supply and demand, it is expected that the trend of stainless steel prices will be mainly weak and stable.
If you have any questions, please feel free to contact SunSirs with support@SunSirs.com.
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