Stainless Steel Coils
This week, the 304 stainless steel coil prices first rose and then fell, the 201 coil prices steadily weakened, and the 430 coils remained weak and stable. In this week’s sentiment survey:
52% of steel traders believe prices will stabilize next week. The primary reasons include significant price cuts today, poor market transactions, and a lack of market digestion of earlier price hikes, leading to a cautious market sentiment. Current spot inventory is still limited, and with high procurement costs, there is little willingness to sell at low prices. Short-term trends are expected to remain volatile. Downstream demand from pipe manufacturers is average, and price increases fail to stimulate demand. Price drops lead to more cautious procurement. Some traders offer low prices to stimulate transactions, but actual sales are unsatisfactory. Most market transactions are based on immediate needs, and price reductions are unlikely to stimulate significant demand, especially as current market prices have reached a low point. In the short term, prices are expected to remain cautiously stable.
48% of steel traders believe prices will decline next week. Although current overall quotes show little fluctuation, traders are expected to sell off inventory at lower prices to recoup funds by the end of the month, leading to possible slight price drops next week. The decline in chrome iron steel bids and stable chrome iron retail prices have weakened the cost support for stainless steel. The stainless steel market is currently performing poorly, with demand mainly based on immediate needs, making it difficult for prices to remain stable during the off-season. At the end of the month, traders may continue to lower quotes to alleviate inventory pressure. The stainless steel market is in a sluggish state, with many inquiries but few transactions, and large-scale engineering orders are hard to secure. Simple processing sells better than raw materials alone, and traders generally hold a pessimistic view of prices.
Stainless Steel Profiles
This week, stainless steel profile prices fluctuated.
Round Steel: Market trading confidence is lacking, with high-priced resources remaining sluggish and fewer low-priced resources available. Most traders are unwilling to cut prices. After a price increase of 100 yuan/ton, inquiries increased but actual transactions remained limited.
Wire Rod: Major steel mills adjusted production structures, and market competition fluctuations led to a price increase of 100 yuan/ton for the 300 series. Most traders seek stability and do not follow price adjustments.
Section Steel: The price of 304 resources decreased by 200 yuan/ton, leading to a revival in market inquiries. Some downstream buyers started to purchase, improving market spot circulation. Traders reported case-by-case negotiations.
Stainless Steel Pipes
This week, stainless steel pipe prices were mainly stable with slight increases.
Welded Pipes: Some manufacturers raised prices for spot resources by 100-200 yuan/ton, primarily for 316L resources. Despite the price hikes, actual sales did not improve, and downstream buyers remain pessimistic about the future market. Order increases are limited, resulting in moderate stocking intentions among manufacturers.
Seamless Pipes: After price increases, market sentiment improved in the morning, leading to better transactions and higher inquiries and comparisons. However, large orders were rare, with purchases mainly for immediate needs. Overall, pipe mills have timely shipments, short spot cycles, and sufficient inventory for regular specifications. Many previous inquiries turned into actual orders, improving market sentiment.