According to the price monitoring of SunSirs, on the 16th, stainless steel futures and spot prices rose sharply, breaking through 20,000 RMB/ton.
This round of stainless steel rise is mainly due to the continuous fermentation of limited production and power restrictions. Recently, a ferronickel factory in Jiangsu Province has received a notice of a complete shutdown. It is understood that Guangxi’s policy seems to have been tightened recently, and production of carbon steel and ferrochromium are limited or suspended; Fujian may also be affected. In the past month, the Shanghai Futures Exchange's stainless steel futures warehouse receipts decreased by 15,391 tons, a decrease of 55.06%.
Local production restriction policies support the price of stainless steel. Stainless steel production and inventory continue to decline, and the overall market supply and demand are tightly balanced. However, the downstream acceptance of the high price of stainless steel is limited, and it should not chase too high prices.
In the peak season of "Golden September and Silver October", industry players are still relatively optimistic about the market. Stainless steel is expected to remain strong in the short term.