SunSirs: Stainless Steel Prices Fell Weakly on the 17th
November 18 2021 13:42:11 SunSirs (John)
Price trend
According to the price monitoring of SunSirs, the price of stainless steel fell slightly on the 17th, with a price of 19,533.33 RMB/ton, down 1.68% from the previous trading day and up 35.18% from the beginning of the year.
Analysis review
Stainless steel prices continued to fall weakly on the 17th. According to the customs, the total domestic stainless steel exports in September were about 369,500 tons, a month-on-month increase of 9.57% and a year-on-year increase of 40.3%. In September, domestic stainless steel imports amounted to 241,500 tons, a decrease of 15.65% month-on-month and an increase of 36.36% year-on-year.
On the supply side, power cuts in various regions have been relaxed, and steel mills have increased their production schedules. On the demand side, the traditional peak season has passed, and downstream companies have low willingness to stock up, and most of them just need to buy on dips. In terms of cost and profit, the prices of raw materials and energy have fallen, and the production of steel mills has shown an inventory backlog.
On November 17, the Shanghai Futures Exchange's stainless steel decreased by 123 tons to 4,428 tons.
Market outlook
The stainless steel spot market is expected to continue its weak trend.
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