Stainless Steel Industry Daily

Stainless Steel Industry Daily. The Federal Reserve raised interest rates as scheduled at its December meeting, but said it was too early to cut interest rates, and the dollar index was weak; China’s economic data in November was weaker than expected, and market risk sentiment weakened. The price of upstream ferronickel stabilized, and imports fell month on month, with support on the cost side; The production loss of domestic stainless steel plants has deepened.

At present, the output of steel plants has begun to decline, and there is a great possibility of subsequent production reduction. The market arrival may gradually decrease, which also makes the market more willing to support prices. In the near future, the downstream mainly purchases on demand, but the concentrated arrival of resources has continued to increase the inventory, the inventory digestion has weakened slightly, the spot premium has gradually decreased, and it is expected that the price of stainless steel will slow down. Technically, the positive market of SS2301 contract is uncertain, focusing on the support of 5-day moving average. In terms of operation, it is recommended to leave the site at high prices.

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