SunSirs: Stainless Steel Rose Slightly This Week (April 18-22)
April 24 2022 09:10:43 SunSirs (John)
Price trend
According to the price monitoring of SunSirs, stainless steel fluctuated and rose this week. As of April 22, the average price of spot 304/2B stainless steel flat plate 1.0*1219*2438 (tolerance 0.91) was 18,515 RMB/ton, compared with the price of 18,398.33 RMB/ton at the beginning of the week, up 0.63%, and up 34.74% year-on-year.
Analysis review
According to the spread analysis tool of SunSirs, spot stainless steel and nickel prices both rose slightly this week.
The total social inventory of stainless steel has continued to increase recently. Traders' early shipments were mainly based on low-cost resources. At present, the cost of spot resources in the hands of traders is relatively high. At present, most traders ship at a loss in order to transfer funds. Under the high cost of obtaining goods, the spot price has little room to fall. Downstream orders are not ideal, and demand has not increased significantly. Before the May 1 holiday, there may be a concentrated stocking and purchasing action to support stainless steel prices.
Market outlook
It is expected that the overall price of stainless steel will be stable and strong.
If you have any questions, please feel free to contact SunSirs with support@sunsirs.com
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