SafariRiches| Changjiang Nonferrous Metals Short Comment: Raw material prices will be firm in the short term, and stainless steel may continue to rise on the 21st
editor 2024-05-21 09:44:28 Finance 29
The supply disruption of overseas Single-Kari French mining companies and high Indonesian mineral prices have driven the price of ferronickel to firm in the short term. However, since May, many mainstream steel companies have expressed that they are not very optimistic about the future steel market. Among them, Hegang believes that the steel industry is in a period of growth. During the transition from development to stock optimization, we will still face the challenge of unbalanced supply and demand at present and for a long time to come, and market competition will become more intense. At the same time, TISCO Stainless believes that the industry has entered a downward cycle mainly characterized by reduction and structural adjustment. It is facing multiple challenges such as transformation and upgrading, market competition, environmental pressure, and supply chain security. The trend of supply being stronger than demand is still obvious, inventories continue to be high, and steel The price decline is greater than the cost decline, and the overall price decline of the industry is still relatively obviousSafariRichesForeign stainless steel products have hit the domestic market, and the prices of raw materials such as chromium and nickel have remained relatively high, resulting in a significant reduction in corporate profit margins.
It can be clearly seen that short-term prices have boosted, but it is an indisputable fact that the supply of stainless steel has increased significantly in the medium and long term. At the same time, downstream demand is currently shrinking with the real estate market. In the case of oversupply, the short-term rebound of stainless steel may be highly limited. It is expected to rise slightly within the day.
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