HongYue: Stainless steel market trend analysis

June 13, 304 Stainless steel sheet 1.0 * 1219 * 2438 market price is 11953.85 Yuan/ton, down 1.65% over the previous day, the current mainstream price is 11200-12600 Yuan/ton, stainless steel market is still Weakness.

Overnight nickel decreased 215 to $ 8740/ton. Supporting point at 8700 U.S. dollars / ton. Sheet market prices continue to decline today, the enterprise will continue to focus on selling rather than increasing stock，the sale price has further concession, the destocking environment is the major trend , the downstream don’t prefer to pick up materials, only picking for actual demans, the overall market traded relatively flat, it is expected short-term stainless steel or to maintain weak consolidation trend, the price between 11200-12700 Yuan/ton.

Keyword: stainless steel, stainless steel coil, Stainless steel tube, stainless steel market.