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.
This week, the market has been primarily concerned with steel plants’ maintenance plans during the Chinese New Year and their potential impact on future supply.
Inventory traders have remained cautious amidst current price volatility and the upcoming holiday, operating with low stock levels and closely monitoring market developments.
Given recent market changes and the approaching holiday season, it's advisable to pay attention to short-term price fluctuations and supply adjustments. During the Chinese New Year, supply might be affected, and timely purchasing could help mitigate potential risks.
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