Price trend
According to the price monitoring of SunSirs, on the 8th, the spot price of stainless steel was reported at 17,233.33 RMB/ton, down 1.71% from the previous trading day and up 19.26% from the beginning of the year.
Analysis review
Recently, the spot price of stainless steel has declined significantly. On the one hand, the production schedule continued to pick up in December. In December, the production of stainless steel crude steel was scheduled to be 2,671,600 tons, an increase of 2.76% month-on-month. On the other hand, the export volume of stainless steel has decreased and the import volume has increased. According to customs statistics, the total domestic stainless steel exports in October was about 318,000 tons, a decrease of 13.94% from the previous month; the import volume was 262,300 tons, an increase of 8.62% from the previous month.
In addition, demand continued to be weak, and the real estate industry sales data continued to fall from January to October, and the rate of decline was very obvious. The sales area and the newly started area fell by more than 15% in a single month.
Market outlook
The end of the year is the traditional low season for demand. At the end of the year, stainless steel companies will usher in maintenance. In December, the 300 series stainless steel plans to reduce production by about 100,000 tons. This year, the maintenance efforts are not strong. It is expected that the stainless steel market will continue to be weak in the short term.
