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Since the end of April, stainless steel has risen by nearly 40%

19 2021.07

Since the end of April, it has risen by nearly 40%, and the price of stainless steel has taken the lead in hitting a record high. 

On July 16, the main stainless steel futures contract rose by more than 6%, reaching a maximum of 19,120 yuan/ton, a new high since its listing, and it has risen by nearly 40% since the end of April.

It is reported that the recent performance of stainless steel prices has been very strong. On the one hand, news of production restrictions has boosted market sentiment. Recently, some stainless steel plants in Jiangsu and Zhejiang provinces have expressed that they have received restrictions on the release of capacity by means of power restrictions, and plan to achieve 2021. Production cannot exceed 2020. According to statistics, the total output in the second half of the year may exceed 1 million tons compared with the first half. Some areas of Foshan continue to implement the policy of staggered power consumption, and the production of stainless steel processing enterprises is also affected. Major steel plants such as Shougang, Benxi Iron and Steel, Baotou Steel have successively reduced production and ceased production. On the other hand, the raw material nickel price fluctuated at a high level, and Inner Mongolia continuously issued warnings of electricity shortages. The lack of electricity caused the price of raw high chromium to rise. Guotai Junan Futures analysis pointed out that, from the perspective of fundamental logic, stainless steel prices are expected to continue to rise in a trend driven by the dual drive of supply contraction and rising costs.

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