The stainless steel market has shown a stable and robust trend in recent weeks. According to business community price monitoring data, as of August 9, the market price for 304/2B 1.0 cold-rolled stainless steel flat plate was 14,628.57 yuan per ton, marking an increase of 1.49% compared to August 5. This marks over a month of continuous price growth, with the market price rising by 4.38% since the lowest point on July 10.
Looking at the factors behind this upward movement, the stainless steel market had been under pressure for half a year, but it finally stabilized from early July. The overall domestic steel market also contributed to the price increase, with average prices rising by approximately 600 yuan per ton. However, the main driver behind the surge in stainless steel prices has been the sharp rise in nickel prices.
According to business club monitoring, the London nickel market saw a significant jump on August 8, rising 2.1% in one day and closing at $14,306 per ton. The trading volume for nickel stood at 294,081 tons, up by 120 tons from the previous day. This surge in nickel prices directly impacted the ex-works price of Jinchuan electrolytic nickel (slab), which increased by 1,500 yuan per ton on August 9. On that day, the Shanghai quoted price reached 10.05 yuan per ton, while on August 5, the ex-factory price of Jinchuan electrolytic nickel (slab) was only 9,850 yuan per ton, reflecting a cumulative increase of 2,000 yuan per ton.
This upward trend in nickel has boosted trader confidence in the stainless steel market. However, due to relatively low inventory levels of cold-rolled stainless steel plates and slow delivery from steel mills, some merchants have seen sharp price increases. While the overall market performance remains cautious, the afternoon session showed signs of continued strength.
Currently, the base price for 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 are between 15,500 and 15,900 yuan per ton.
Looking ahead, business club analyst He Hangsheng predicts that as steel mills gradually increase their supply, traders will likely unify their price adjustment pace this week. As a result, the stainless steel market is expected to maintain its upward trend in the near term. With demand showing resilience and supply constraints still in place, the outlook for the sector remains positive.Parallel Twin Screw Barrel,Injection Molding Machine Barrel,Screw & Barrel For Plastic Machine,Screw For Injection Molding Machine
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