The stainless steel market has shown a steady and robust trend in recent weeks. According to the latest price monitoring data from industry sources, as of August 9, the market price for 304/2B 1.0 cold-rolled stainless steel plate stood at 14,628.57 yuan per ton, marking a 1.49% increase compared to the previous Monday (August 5). This marks over a month of consecutive price gains, with the current level up by 4.38% since hitting its lowest point on July 10.
Looking at the factors driving this upward movement, the stainless steel market has finally stabilized after a six-month decline. The broader domestic steel market has also contributed to the price rise, with an average increase of around 600 yuan per ton. However, the main driver behind the surge in stainless steel prices has been the sharp rise in nickel prices.
On August 8, the London Nickel market saw a significant jump, rising by 2.1% in one day and closing at $14,306 per ton. The trading volume for the nickel market was reported at 294,081 tons, an increase of 120 tons from the previous day. This surge in nickel prices directly impacted the pricing of Jinchuan electrolytic nickel (slab), which saw an ex-factory price increase of 1,500 yuan per ton on August 9. The Shanghai quotation for the same material was 10.05 yuan per ton on that day, while the ex-factory price on August 5 was only 9,850 yuan per ton, reflecting a cumulative increase of 2,000 yuan per ton.
This upward trend in nickel prices has boosted trader confidence in the stainless steel market. However, due to the relatively low inventory of cold-rolled stainless steel plates and the slow arrival of steel mill supplies, some merchants have experienced sharp price increases. While the overall market performance remains cautious, the afternoon trading session has seen some positive momentum.
Currently, the base price of cold-rolled stainless steel resources in the Wuxi market is reported at 15,400 yuan per ton, while the prices in Zhangpu and Baoxin markets range between 15,500 and 15,900 yuan per ton.
According to He Hangsheng, a senior analyst at the Business Club, as steel mills gradually increase their supply, the pace of price adjustments among traders is expected to become more unified this week. He predicts that the stainless steel market will continue its upward trend in the near term, supported by both strong demand and rising input costs.Bimetallic Screw Barrel,Barrel Bimetal,Bimetallic Barrel,Bimetallic Screw
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