Stainless Steel Prices Under Pressure As Demand Fails To Follow Through
Stainless steel prices last week weak shock, and downstream demand is poor. The profit of steel mills contracted but maintained high discharges, which formed great pressure on stainless steel prices.
Spot market
Last week, stainless steel spot prices fell as a whole, and the market turnover atmosphere is not good. Steel production remains high, and spot inventories continue to accumulate, resulting in difficult price increases.
Futures market
Last week, the stainless steel registered warehouse receipts on the Futures Exchange increased rapidly, exceeding 100,000 tonnes, bringing considerable pressure on futures prices. With the fall in raw material prices, and social inventory levels continue to rise, futures prices overall weak run。
Outlook
Steel mill scheduling plan, the digestibility of social inventory and the level of downstream demand are worthy of our continued attention.It is expected that the stainless steel market is still in a weak running state in the short term.
Post time: Mar-12-2024
