The social treasury is still at a high level, the overall consumption strength has not improved significantly, and the traditional off-season, it is expected that the short-term stainless steel market may continue to be weak and volatile. Stainless steel water pipe|double clamp pipe fittings|304 stainless steel water pipe brand|Foshan Yongsui Stainless Steel Co., Ltd
In June, stainless steel fluctuated and fell, and under the weak atmosphere of nickel price futures, 304 cold rolled fell 200 in the month; Hot rolled fell 250 in the month. 201 cold-rolled fell 300 in the month; Hot rolled fell 200 in the month.
Supply and demand side
The cost support of nickel ore remained unchanged in June, and it is expected that Indonesia's industrial policy in July will bring disruption to the future production of nickel pig iron and high-ice nickel. Looking back at May, the demand for stainless steel raw materials for the four major appliances was about 250,000 tons, a decrease of nearly 5,000 tons compared with the previous month. However, affected by the recent high temperature weather, it is estimated that the demand for stainless steel raw materials for household appliances will decline only in the future. At present, it is in the off-season of stainless steel consumption, and the enthusiasm of downstream stocking is limited, and the terminal demand is remarkable.
Stainless steel in stock
The picture comes from the business company
According to the statistics of the business community, as of the end of last week, the total inventory of stainless steel was about 1.08 million tons. Among them, steel mills are controlling the pace of delivery, spot resources are not sufficient, social inventory is in the stage of just needing to go to the warehouse, and warehouse receipt inventory is still at a historical high.
A weekly overview of the stainless steel market
Price action review
Before the deadline,
304 cold-rolled state-owned resources mainstream reported 14,600 yuan/ton,
The mainstream of private resources is reported at 13,600-13,850 yuan/ton;
304 hot-rolled state-owned four-foot resources mainstream reported 13,300 yuan/ton,
The mainstream of private five-foot resources is reported at 13,300 yuan/ton.
Before the deadline,
J1 cold-rolled mainstream reported 8450-8800 yuan/ton,
J2 cold-rolled mainstream reported 8100 yuan/ton;
J1 hot-rolled mainstream reported 8600 yuan/ton,
J2 hot-rolled mainstream reported 7900 yuan/ton.
Market fundamentals
This week, the stainless steel market fluctuated and weakened, and the futures market rose during the week but lacked stamina. The spot market price fluctuates slightly due to the impact of the futures market and the news surface. The cost support of raw materials was slightly loosened, but it was still at a high level. The production schedule of the 300 series at the end of the steel mill in June did not meet expectations, and it is expected to decrease by 8-100,000 tons, and it is expected that the scheduled production in July will maintain the current scale, or even further reduce production. The downstream consumption power is insufficient, and the problem of accumulation still exists. The market is currently slightly under pressure, but in view of the strong short-term performance of the raw material side, there is an expectation of steel mills to reduce production, and there is still support below stainless steel.
Market prediction
At present, the market has not yet formed a unified view of ups and downs, high inventory, poor transactions and the rainy season inevitably dare not easily replenish stocks, steel mills are suspended and price limits make the market also panic. At the end of each month, the goods should be picked up, and the pressure on the funds will be concentrated in the last few days. Overall, the stainless steel market remains under pressure.