SunSirs: On November 7, the Spot Price of Stainless Steel Fell Slightly
November 08 2022 13:24:00 SunSirs (John)
Price trend
According to the price monitoring of SunSirs, on the 7th, the average price of stainless steel market was 17,300 RMB/ton, down 0.14% from the previous trading day and 15.2% year on year.
Analysis review
Recently, the price of stainless steel mainly dropped slightly. Previously, the shortage of stainless steel raw materials had been fermented for a round, but the raw materials were gradually supplemented and the resources in transit increased. The demand effect in the golden September and silver October peak season subsided, entering the traditional slack season, the downstream terminal's willingness to take delivery of goods was low, the transaction was cold, and the overall demand for stainless steel was weak.
Market outlook
It is expected that stainless steel will be dominated by weak operation in the short term.
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