In mid-to-early April, stainless steel prices did not dip further due to poor fundamentals of high supply and low demand. Instead, the strong rise in stainless steel futures drove spot prices to rise sharply. As of the close of trading on April 19, the main contract in the April stainless steel futures market had risen by 970 yuan/ton to 14,405 yuan/ton, an increase of 7.2%. There is a strong atmosphere of price increases in the spot market, and the price center of gravity continues to move upward. In terms of spot prices, 304 cold-rolled stainless steel rebounded to 13,800 yuan/ton, with a cumulative increase of 700 yuan/ton during the month; 304 hot-rolled stainless steel rebounded to 13,600 yuan/ton, with a cumulative increase of 700 yuan/ton during the month. Judging from the transaction situation, replenishment in the trade link is relatively frequent at present, while the purchasing volume in the downstream terminal market is average. Recently, the mainstream steel mills Qingshan and Delong have not distributed much goods. In addition, the inventory has been digested to a certain extent in the atmosphere of rising prices, resulting in a relatively obvious decline in social inventory.
In late April and May, it was unclear whether stainless steel funds and steel mills would continue to rise. Because the current inventory structure has not yet completed its downward shift, there is a need to continue to increase prices. However, the current high price has caused a sharp increase in risks. Whether the risks can be transferred to achieve a gorgeous turnaround requires wisdom and the precise cooperation of “hype stories”. After clearing the clouds, we can see the fundamentals of the industry. Steel mills’ end-end production schedules are still at a high level, terminal demand has not increased significantly, and the contradiction between supply and demand still exists. It is expected that the price trend of stainless steel may fluctuate strongly in the short term, and the price of stainless steel in the medium and long term may return to fundamentals and fall back to the bottom again.
High Purity BPE Stainless Steel Tubing
BPE stands for bioprocessing equipment developed by the American Society of Mechanical Engineers (ASME). BPE establishes standards for the design of equipment used in bioprocessing, pharmaceutical and personal-care products, and other industries with strict hygienic requirements. It covers system design, materials, fabrication, inspections, cleaning and sanitization, testing, and certification.
Post time: Apr-29-2024