SunSirs: On the 10th, Both Supply and Demand Were Weak, and the Price of Stainless Steel Fell Slightly
November 11 2021 13:56:55 SunSirs (John)
Price trend
According to the price monitoring of SunSirs, on the 10th, the price of stainless steel fell slightly. The spot price was 20,100 RMB/ton, down 1.15% from the previous trading day and up 39.1% from the beginning of the year.
Analysis review
Stainless steel continued to fall weakly on the 10th.
The current domestic electricity curtailment still exists, but most areas have eased, the electricity curtailment has been gradually relaxed, and the output of steel mills has increased, but the supply is still tight compared to the same period in previous years. In November, 34 domestic cold-rolled stainless steel plants planned to produce 1.2049 million tons of cold-rolled stainless steel, an increase of 5.27% month-on-month and a year-on-year decrease of 7.01%. The current inventory is still at a relatively low level, and there is no significant increase in inventory.
In terms of demand, entering the traditional off-season, demand is relatively weak, mainly on-demand procurement. Market rumors that a steel mill in southern China will stop production, which will provide some support to the market.
Market outlook
In the case of weak supply and demand, stainless steel is expected to remain weak in the short term.
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