SunSir: Stainless Steel Slightly Declined This Week (July 3-7)
July 11 2023 09:33:58 SunSirs (John)
Price trend
According to the price monitoring of SunSirs, stainless steel slightly declined this week. As of July 7th, the daily average price of spot 304/2B stainless steel flat plates 1.0 * 1219 * 2438 (with a tolerance of 0.91) was 13,528.57 RMB/ton, a decrease of 1.15% from 13,685.71 RMB/ton at the beginning of the week and a year-on-year decrease of 16.64%.
According to the price difference analysis tool of SunSirs, the price trends of nickel and stainless steel are mostly similar. Recently, there were differences in the prices of nickel and stainless steel, and the overall price of stainless steel was relatively stable, while with a significant fluctuation in nickel prices.
Analysis review
This week, the total inventory of stainless steel was 98.24 tons, a decrease of 0.77% compared to last week, with both cold and hot rolled inventories showing a decrease.
Entering the traditional hot off-season, market transactions were flat. However, As of July 7th, traders had limited resources, and if confidence stabilized, there might be a concentrated replenishment market. In June and July, the high production output was basically maintained, and the market transactions were not good during the off-season, and the supply and demand margin weakened.
Market outlook
It is expected that the price of stainless steel will remain a stable and wait-and-see trend.
If you have any questions, please feel free to contact SunSirs with support@SunSirs.com.
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