Inventory increases, stainless steel prices whether falling
The latest phase of foshan market stainless steel total social inventory is continuing to increase, but traders are not willing to lower prices, the willingness to take delivery is not strong, foshan market stainless steel spot price reduction space is limited, more in the high firm.
First, the steel price willingness is obvious
April 20, Castle Peak steel opened may futures price guidance, were flat quoted; Foshan market delong steel from April 14, 304 cold rolling spot price continued 20200 yuan/ton base. Although the recent market transaction is not good, the agent is not free, but from the price of steel out of the price, the will is more obvious, the price is still in high firm.
Second, traders spot cost is high
According to the market feedback, the early shipment is based on low-cost resources, the current price of spot resources in the hands of traders is relatively high, including there are still Delong 304 cold rolling 20800 yuan/ton and 21500 yuan/ton, Yongjin 304 cold rolling in 20400 yuan/ton. As of April 21, foshan market 304 cold rolling spot price in 19900 yuan/ton, traders in order to fund flow, most of the shipment at a loss, but less loss is a little, so take the goods cost is high, the spot price can be under the space is not big.
Third, the demand has not been significantly improved
Although less affected by the epidemic in foshan market, overall transportation there is not a big problem, but downstream order situation is not too ideal, article processing order is generally, under the demand there is no evidence of an ascending, enquiry and not too warm, as traders said, “the price is also no one asked, price is also no one asked”, since the price did not stimulate demand, It is better to steady price shipment, kneeling for predestined relationship customers.
In the afternoon of April 21st, foshan market transaction has picked up somewhat. With the gradual release of demand, the agent orders have increased. However, whether this situation can continue and whether the support of transaction can promote the price rise depends on whether the market traders and downstream enterprises will have the centralized stock purchase action before the May Day holiday.
For now, the stainless steel plates are almost the bottom price at a stable during. If you need ,contact our company quickly!