SunSirs: On November 8, the Spot Price of Stainless Steel Was Weak and Stable
November 09 2022 10:08:57 SunSirs (John)
Price trend
According to the price monitoring of SunSirs, the average price of stainless steel on the 8th was 17,275 RMB/ton, down 0.14% from the previous trading day and 15.04% year on year.
Analysis review
The production capacity of the stainless steel midline was abundant, the supply pressure was large, and the midline was expected to be pessimistic. However, the price of short-term raw materials was firm, the cost was high, and the steel plant suffered from immediate profit losses. In the fourth quarter, there are uncertainties about the possible implementation of Indonesia's nickel iron export policy. It is also a low demand season, and the demand is weak.
Market outlook
It is expected that stainless steel will be dominated by weak operation in the short term.
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