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SunSirs: Stainless Steel Prices Fell Weakly on November 22

November 23 2021 14:13:46     SunSirs (John)

Price trend

According to the price monitoring of SunSirs, the price of stainless steel fell slightly on the 22nd, with a price of 19,133.33 RMB/ton, down 0.52% from the previous trading day and up 32.41% from the beginning of the year.

Analysis review

Increasing output of steel mills is a foregone conclusion, and demand side concerns are gradually rising. Although there is a tendency to relax the real estate policy, after entering the winter, the start of construction has gradually weakened, and demand is difficult to pick up, and the market is showing an atmosphere of lower prices for shipments.

At present, the spot price of stainless steel is at the break-even line, but the price of raw materials is also falling, and the cost support of stainless steel is relatively limited.

Market outlook

With strong supply and weak demand, stainless steel has a preliminary tendency to accumulate inventories. It is expected that the stainless steel market is likely to fall but not rise in the short term.

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