China Stainless Steel Market Brief, January 25, 2024: Steady Market with Subtle Changes 2024-01-26

The stainless steel prices are mainly influenced by the upcoming holiday break, with minimal fluctuations. Limited transactions are occurring after slight negotiations around the mill prices. The futures market remains cautious, closely following international market trends. Stability is expected in the domestic market before the Chinese New Year, but international market influences and sustained demand remain crucial.

China Stainless Steel Market Brief, January 24, 2024: Despite Slow Sales, Prices Still Rising 2024-01-25

The price of 304 stainless steel remains strong. Despite average overall transactions, market prices continue to rise. Recent economic meetings and positive news have driven up both the financial and spot markets.

Weekly Review - China Stainless Steel Market (Jan 15-21, 2024): Prices Generally Rise, Focus on Steel Plant Maintenance 2024-01-22

This week, prices for various types of stainless steel generally increased. Despite market fluctuations, significant price reductions before the Chinese New Year are unlikely. As the Chinese New Year holiday approaches, downstream demand has weakened slightly. However, due to controlled shipments from steel plants and the influence of the futures market, spot prices have maintained an upward trend.

Shakes in the Morning, Turns Positive in the Afternoon - Chinese Stainless Steel Market Daily Report - January 18, 2024 2024-01-19

Futures-spot price spread, stainless steel futures contract 2403 increased, with a negative spread between futures and spot prices. Foshan market's 304 cold and hot rolled trends diverge, fluctuations observed in hot-rolled prices, while cold-rolled prices, influenced by the overall market, experience a high-level retracement with increased activity.

2023 Chinese Stainless Steel Exports Decrease by Nearly 10%: Can 2024 Reverse the Trend? 2024-01-17

Throughout 2023, the global manufacturing PMI consistently remained below 50%, indicating a slower economic growth momentum compared to 2022. This led to a recovery with insufficient momentum. Major global institutions generally expect the economic growth rate in 2024 to be slightly lower than in 2023. Geopolitical conflicts continue to cast uncertainty over global trade, which is expected to be a major impediment to global economic recovery in 2024. The stability of global supply chains remains challenged. According to China Customs statistics, excluding February, China's monthly stainless steel exports in 2023 were relatively stable at around 350,000 tons. The average monthly export volume from January to November was lower than the same period in the previous two years. From January to November 2023, China's cumulative stainless steel export volume was about 3.8 million tons, a decrease of approximately 359,000 tons or 8.6% compared to the previous year.

China's Stainless Steel Market Update for January 15 2024-01-16

At the beginning of this week, the Chinese stainless steel market's main contracts opened with a decline, but overall market prices remained stable. In the Wuxi region, the prices of stainless steel spot goods held steady compared to last week, indicating a stable market trend. The quotations from major steel mills also remained unchanged, reflecting stable market expectations.

Week 2 Review and Outlook of China's Stainless Steel Market in 2024 (Jan 8-15): Price Fluctuations, Market in Wait-and-See Mode 2024-01-15

This week, the Chinese stainless steel market saw a slight increase in spot prices, though not as pronounced as in the futures market. As the year-end approaches, downstream demand remains moderate, leading to a slight increase in social inventory. The market anticipates significant pressure from upcoming deliveries, maintaining a cautious outlook on demand release and steel mill production planning. Short-term price volatility is expected.

Recent Fluctuations in China's Stainless Steel Market: Price Rises May Rely on Futures Surge —— Jan 12 2024-01-12

Yesterday, the Chinese stainless steel market experienced certain price fluctuations, the reasons for which remain unclear. The market generally reports difficulty in transactions following price increases, with steel mills maintaining stable order prices and a rise in market inventory. Despite the strong call for price hikes, actual transactions have not been ideal, with businesses primarily focusing on spot goods.

Breaking Today? Unexpected Surge in China's Stainless Steel Market —— Jan 11 2024-01-11

China's domestic stainless steel market, particularly the 304 grade, is anticipated to experience a surge in spot prices today in Jan 11. This unexpected rise is attributed to a significant uptick in both the nickel index and stainless steel index at the Shanghai Exchange, fueling market sentiment in the morning. Such a rare price increase, especially before the extended Spring Festival holiday, has taken the market by surprise.

Recent Analysis of China's Stainless Steel Market: Production Increase of 200,000 Tons, Improved Supply Expectations 2024-01-10

Overall, with the recovery of production in some steel mills and an increase in market arrivals, prices are expected to maintain a volatile trend in the short term. The market focus will be on the pace of arrivals and changes in market supply.

China Foshan Stainless Steel Market Update, Jan 8: 304 Sees Minor Changes, 201 Fluctuates, Coil Markets Adjust Slightly 2024-01-09

On January 8, 2024, the Foshan market in China after brief fluctuations, stainless steel futures returned to a state of volatility. The spot market opened steadily, with overall trading being relatively quiet.

Futures Fluctuate, Spot Market Stays Firm Amid Weak Demand - 2023 Week 1 China Stainless Steel Industry Summary and Outlook (Jan 1-7) 2024-01-08

Futures Fluctuate, Spot Market Stays Firm Amid Weak Demand - 2023 Week 1 China Stainless Steel Industry Summary and Outlook (Jan 1-7)

Posts

General