Stainless steel is an important raw material for making melamine tableware compession molds. Today, Shunhao Machine and Mold Factory will share with you the latest price trend of stainless steel.

Since the beginning of February this year, stainless steel has fallen to around 2,000 yuan/ton, a drop of nearly 15%. After finally falling to a low level in the past two years, it ushered in a continuous rebound for two consecutive days. Stainless steel futures even rose by more than 3% in a single day. As of April 12, the price of stainless steel plate was 14,150 yuan/ton, a single-day increase of 1.49%.

The cost of stainless steel raw materials stopped falling and rebounded

The price of ferrochrome still maintains a weak and stable trend, while the price of ferronickel has shown a tendency to stop falling. Pure nickel was affected by the macro, and rebounded.

The inventory of stainless steel continued to decline

Stainless steel inventories totaled 1,245,273 tons, down 2.47% from last week. Most of the reason for the destocking is that the arrival of steel mills has decreased, and the real demand has increased slowly.

To sum up, the news of production cuts drives the price of stainless steel, but whether the production cuts can really be implemented remains to be verified. Demand has not been significantly boosted, suppressing the rebound of stainless steel. The cost of raw materials has stopped falling to support the price of stainless steel. It is expected that the price of stainless steel may still have room to boost, but in the absence of a significant improvement in downstream demand, the boost may be limited.