SunSirs: Stainless Steel Saw a Slight Increase This Week (January 1-5)

Price trend

According to the price monitoring of SunSirs, stainless steel had slightly increased this week. As of January 5th, the daily average price of spot 304/2B stainless steel flat plates 1.0 * 1219 * 2438 (with a tolerance of 0.91) was 12,835.71 RMB/ton, an increase of 0.17% from the beginning of the week's 12,814.29 RMB/ton and a year-on-year decrease of 18.8%

Analysis review

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 recently, with stainless steel prices relatively stronger compared to nickel.

This week, the total inventory of stainless steel was 82.45 tons, a decrease of 2.4% compared to last week. Among them, cold rolled inventory increased and hot rolled inventory decreased.

As the Chinese New Year approaching, market demand gradually weakened. However, the pressure on spot inventory in the market was relatively small, and the futures prices of steel mills were relatively high. Merchants had weak willingness to adjust prices. If there is no significant adjustment in the prices of raw materials, the prices of stainless steel may remain stable in the later stage; As of January 5th, some merchants were trying to increase their prices, but they were unable to do so even if they wanted to raise prices. The market was dominated by low-priced goods, and no one was buying them even if they raised prices. Transactions were mostly concentrated on low-priced resources, and the inventory pressure on merchants was not high. The willingness to lower prices was also not high, and it is expected that the future will remain stable; Although the Chinese New Year is approaching, there are not many people in stock, and the demand is relatively weak.

Market outlook

It is expected that the price of stainless steel will remain stable with minor adjustments before the Spring Festival.

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