SunSirs: Stainless Steel Prices Fell Slightly by 0.15% in the Week (October 14-18)
October 22 2019 10:55:42 SunSirs (John)Price trend
According to the price monitoring of SunSirs, as of October 18, the average daily price of 304/2B stainless steel plate 1.0*1219*2438 (tolerance 0.91) was 14571.43 RMB/ton (including tax), compared with 14592.86 RMB/ton on the 14th (including Tax) fell slightly by 0.15%.
Analysis review
Industry chain: Nickel prices fell sharply last week. As of the end of the week, the overnight nickel price continued to fell slightly, falling 1.04% to US $16220, narrowed compared with the day before, but there was no obvious signal of stabilization. The price of stainless steel was firm at the beginning of the week, but it was loose at the end of the week.
Price adjustment of steel plant: The weekly price of Wuxi Jiugang (10.15-10.21): the base price of 304 cold rolling trimming is 16150 RMB/ton; the link ratio was increased by 100; the base price of 430 cold rolling was 8200 RMB/ton, the link ratio was flat. The weekly price of Dongfang special steel (10.15-10.21) was increased by 100, 4 mm-12 mm to 16100 RMB/ton, 14 mm to 16700 RMB/ton and 16 mm to 16900 RMB/ton.
Industry News: On October 16, Vale and China Baowu Iron and Steel Group Co., Ltd. signed a series of strategic project agreements to deepen and expand cooperation between the two parties, including steel smelting, logistics and basic metals.
Market outlook
Nickel prices continued to fall, leading to pessimism in the stainless steel market. However, due to the emergency in Wuxi, the cost of stainless steel freight increased, and the quotation of merchants was firm. Stainless steel is expected to maintain weak operation in the short term.
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