According to the price monitoring of SunSirs, stainless steel fluctuated slightly this week. As of June 16th, the daily average price of spot 304/2B stainless steel flat plates 1.0 * 1219 * 2438 (with a tolerance of 0.91) was 13,935.71 RMB/ton, a decrease of 0.05% compared to 13,942.86 RMB/ton at the beginning of the week and a year-on-year decrease of 18.14%.
Analysis review
According to the price difference analysis tool of SunSirs, the price trends of nickel and stainless steel were basically consistent, but the recent trends of stainless steel and nickel prices had been somewhat different. Nickel prices had fluctuated upwards, while stainless steel prices had remained relatively stable.
This week's total stainless steel inventory was 982,200 tons, a decrease of 0.78% compared to last week. Among them, cold rolled inventory decreased and hot rolled inventory increased.
In terms of raw materials, nickel elements, the weather in the Philippines was deteriorating, with expectations of nickel ore prices rising, and steel mills had sufficient raw materials. Steel mills controlled shipments, and the market was not abundant in spot resources. Entering the traditional hot off-season, market transactions were flat. However, as of 16th, traders did not have much resources in their hands, and if the market rises, there may be a restocking market.
Market outlook
It is expected that the price of stainless steel will fluctuate with a stronger trend.
