levvvelcomcoinmaster| Stainless steel may continue to fluctuate in May!
editor 2024-05-14 13:45:40 Nature 40
Source: Mysteel ILevvvelcomcoinmasterStainless steel net
Preface
Affected by the continuous pull in AprilLevvvelcomcoinmasterInsufficient market demand after May Day, general pick-up orders after the holiday, the impact of stainless steel price shocks, strong market wait-and-see attitude, business-oriented cautious operation.
Raw material side
Macro sentiment fell, fundamentals oversupply, nickel prices fell, but affected by the nickel refining cost support, nickel prices fell limited, is expected to run relatively high in the short term.
The increment of Ni-Fe ring ratio from April to May is limited, and stainless steel maintains a high production schedule, which supports the price of Ni-Fe. It is expected that the price of Ni-Fe will continue to operate at a high level in May, and the price reduction is limited.
In terms of steel mill output and inventory
The steel mill is expected to schedule 373 in May.Levvvelcomcoinmaster.03 tons, an increase of 4 percent over the previous monthLevvvelcomcoinmaster.65%, expected output at the supply end of stainless steel and its adequacy.
The national mainstream market stainless steel 89 warehouse caliber social total inventory of 1.1079 million tons, a week-on-week increase of 2.66%. Affected by the stagnant sales during the May Day holiday, there were not many pick-up orders after the holiday, the overall shipment situation was lower than expected, and the social inventory increased.
From two aspects, the market demand is still insufficient, and the fundamental pressure of oversupply is highlighted, which will still be the main tone of the industry.
Summary
The form of the pull-up of steel mills and capital plates in May is not clear, but the inventory structure still has the demand to continue to pull up, and there is still a topic of speculation in the macro aspect. the current price is already high due to the continuous pull, and the risk is greater. It has a certain impact on downstream stock preparation, the raw material end is boosted by stainless steel prices, steel mills have a certain profit margin, and the production schedule of steel mills in May is extremely sufficient, and the downstream terminal demand can not keep up with the supply. The contradiction between supply and demand still exists, and stainless steel prices are expected to continue to fluctuate in May.