SunSirs: This Week, Stainless Steel First Fell and Then Rose (December 11-15)

Price trend

According to the price monitoring of SunSirs, stainless steel had experienced a decline and then an increase this week. As of December 15th, 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 0.51% from the beginning of the week's 12,507.14 RMB/ton and a year-on-year decrease of 20.59%.

According to the price difference analysis tool of SunSirs, the price trends of nickel and stainless steel were mostly similar, with a recent decline followed by an increase.

Analysis review

This week, the total inventory of stainless steel was 87.16 tons, a decrease of 4.56% compared to last week, with both cold and hot rolled inventories falling.

In November, the crude steel production of 300 series and 1.492 million tons from 45 domestic stainless steel plants decreased by 8.9% month on month; In December, production was 1.564 million tons, an increase of 4.9% month on month. Indonesia's crude steel production in October was 397,200 tons, an increase of 9.36% month on month and a decrease of 3.59% year-on-year; In November, production was 395,000 tons, a decrease of 0.5% month on month and a year-on-year increase of 6.76%. In the off-season of demand, downstream demand was mainly focused on buying at low prices.

Market outlook

In December, steel mills resumed production slightly, but the reduction in nickel iron production was not significant, and the high return flow in Indonesia led to high nickel iron inventories. It is uncertain whether nickel iron prices can stop falling. However, steel mills have a demand for winter storage, and the high levels of social inventory continue to decrease. It is expected that there will be limited room for stainless steel prices to fluctuate in the short term.

If you have any questions, please feel free to contact SunSirs with support@SunSirs.com.