Stainless steel prices were weak last week, and the performance of downstream demand was unsatisfactory. Steel mills production costs continue to squeeze profits, still maintain a high row of production, warehouse receipt resources continue to replenish the market has brought greater pressure.
Spot market
1. Stainless steel spot prices overall downward last week.
2. The performance of downstream demand is less than expected. Some downstream to digest the inventory before the Spring Festival to prepare for the main.
3. Cold rolled spot resources are abundant, hot rolled resources are relatively tight.
Futures market
1. Stainless steel futures prices were also weak last week.
2. Futures warehouse receipts continue to increase, resulting social inventory pressure increasing.
Outlook:
The probability of the future stainless steel market is still in the doldrums, supply exceeds demand, and the price rally is blocked. In the future, we will focus on the depletion of social inventory and the production plan of the steel plant.
Post time: Mar-19-2024
