SunSirs: On October 20, the Spot Price of Stainless Steel Rose Slightly

https://www.chemnet.com   Oct 21,2022 SunSirs

　　According to the price monitoring of SunSirs, on the 20th, the spot price of 304, 2.0 four foot rolls was quoted at 17,762.5 RMB/ton, up 0.85% from the previous trading day and down 18.4% year on year.

　　Analysis review

　　Recently, the price of stainless steel continued to rise slightly. After the National Day, the arrival of stainless steel in the market was not as expected, and some specifications were in short supply. In addition, the supply of raw materials was problematic. The mood of the stainless steel market improved, and the price of stainless steel rose.

　　In terms of ferrochrome, as the strike in South Africa has not yet ended, the shipment of ferrochrome and chromite ore has been blocked. The expectation of supply reduction in the later period has supported the price of raw materials. In addition, Indonesia levied taxes on nickel downstream semi-finished products, which increased the cost of raw materials. Last week, the joint meeting of the three steel plants proposed to raise prices.

　　Market outlook

　　The cost of raw materials supports stainless steel, and the market is short of goods. However, according to the traders' reaction, the actual demand is relatively general, and there is no substantial improvement. Stainless steel is expected to remain strong in the short term, but the increase is limited.

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