Price trend
According to the price monitoring of SunSirs, on July 27, the spot market price of stainless steel was 20,113.33 RMB/ton, which was the same as the previous day, an increase of 39.19% from the beginning of the year, and a year-on-year increase of 46.55%.
Analysis review
On the 27th, stainless steel futures prices pulled back to a high level and reached historical highs before. The spot price of stainless steel was relatively strong, the upstream spot nickel price still rose slightly, and the rising raw material cost supported the price of stainless steel. Affected by the typhoon, the delivery of steel mills was delayed, and the supply of goods in the market was tight. However, since the price of stainless steel was currently at a high level and coincided with the traditional off-season, the actual downstream transactions were limited, the inquiries were weak, and there was no market.
Market outlook
In summary, the spot price of stainless steel may be adjusted at a high level in the short term.
