SunSirs: Stainless Steel Prices Rose Slightly on the 6th

According to the price monitoring of SunSirs, the price of stainless steel rose slightly, and the spot price was reported at 17,666.67 RMB/ton, an increase of 0.95% from the previous trading day.

Analysis review

Recently, the stainless steel spot rebounded slightly. The prices of high-grade ferro-nickel and scrap steel at the raw material end were raised, nickel prices fluctuated at a high level, and prices of high-carbon ferrochromium remained weak. The crude steel production schedule in January is expected to drop by 13.26%.

The marginal improvement of real estate completion, the seasonal demand is off-season, and centralized procurement has basically ended. Social inventories have fallen for 5 consecutive weeks, supporting stainless steel prices.

Market outlook

Stainless steel is expected to fluctuate mainly within a narrow range.