SunSirs: Stainless Steel Saw a Slight Decline This Week (December 4-8)
December 12 2023 10:04:44 SunSirs (John)
Price trend
According to the price monitoring of SunSirs, stainless steel had slightly declined this week. As of December 8th, the daily average price of spot 304/2B stainless steel flat plates 1.0 * 1219 * 2438 (with a tolerance of 0.91) was 12,650 RMB/ton, a decrease of 1.61% from the beginning of the week's 12,857.14 RMB/ton and a year-on-year decrease of 18.8%.
According to the price difference analysis tool of SunSirs, the price trends of nickel and stainless steel were mostly similar, but there had been some deviation in recent prices.
Analysis review
This week, the total inventory of stainless steel was 91.31 tons, a decrease of 3.6% compared to last week, with both cold and hot rolled inventories falling.
The import volume of nickel iron had rebounded, and the production in Indonesia had also rebounded. The supply of stainless steel raw materials was sufficient, and production costs had decreased, driving the price of stainless steel down; The terminal demand continued to be sluggish; The stainless steel inventory may be destocked affected by the reduction in production by steel mills, but the decrease is expected to be limited in the face of weak terminal demand, and it will take a long time to digest.
Market outlook
It is expected that the price of stainless steel will remain weak and stable in the short term.
If you have any questions, please feel free to contact SunSirs with support@SunSirs.com.
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