SunSirs: On September 2, the Spot price of Stainless Steel Was Mainly Stable

https://www.chemnet.com   Sep 05,2022 SunSirs

According to the price monitoring of SunSirs, on the 2nd, the spot price of 304, 2.0 four-foot rolls was 16,142.5 RMB/ton, which was unchanged from the previous trading day and fell 14.96% year-on-year.

Analysis review

Recently, the overall price of stainless steel was relatively stable, and the price was adjusted slightly. This week, the total domestic stainless steel social inventory was 819,000 tons, down 6.7% from the previous week and up 14.2% year-on-year, of which the total inventory of 300 series stainless steel was 415,000 tons, down 5.6% from the previous week and up 2.7% year-on-year.Power curtailment in some areas and losses at steel mills led to increased production reductions. According to preliminary statistics in August, crude steel production decreased by 8.82% month-on-month. As the peak season is approaching, the downstream replenishment, the spot market has improved, and the steel price has rebounded in stages. In September-October, Indonesian stainless steel is expected to increase backflow, the supply and demand of stainless steel are still loose, and the space above is limited.

Market outlook

In the short term, stainless steel fluctuated to a strong trend.

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