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SunSirs: Stainless sSeel Was Up Slightly This Week (January 17-21)

January 24 2022 13:48:33     SunSirs (John)

Price trend

According to the price monitoring of SunSirs, stainless steel rose slightly this week. As of January 21, the daily average price of spot 304/2B stainless steel plate 1.0*1219*2438 (tolerance 0.91) was 1698.33 RMB/ton, an increase of 2.54% compared with the price of 16,498.33 RMB/ton at the beginning of the week, and it was up 20.38% year-on-year.

Analysis review

According to the spread analysis tool of SunSirs, the prices of spot stainless steel and upstream spot nickel have both been on the rise this week, and the trend of nickel was stronger than that of stainless steel.

In terms of supply and demand: the prices of ferronickel and ferrochromium at the raw material side are relatively strong, and the price of nickel has risen sharply, and the cost has strong support. This week, most manufacturers were rushing to deliver pre-holiday orders and finishing work at the end of the year. The downstream had basically suspended the procurement of resources. Merchants were not in a hurry to sell goods, and the atmosphere of waiting for the holiday was strong. The market was mainly stable and there was no big change.

Market outlook

To sum up: although the cost of raw materials has risen and the price of stainless steel has also risen slightly, there have been price but without market. After the end of the week, the market basically stopped reporting prices. It is expected that the price of stainless steel will remain stable before the festival.

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

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