Stainless steel:The spot market is weak

Stainless steel:
The spot market is weak. This round of price decline is due to the poor performance of market demand, and futures fall. The social inventory is high, so that some traders who ship goods in advance. There are about 200 shipments below the cost in the market, such as Delong's agent. 304 arrives at the cost line. There will still be pessimistic traders who ship at low prices. The amount of hot-rolled goods sent by Delong to Wuxi is small, and the amount of hot-rolled goods sent by Qingshan to Wuxi is small, and there is a situation to control the arrival of goods to control the price. Downstream demand still exists, and there is no problem with normal shipments, but because the disk has fallen and the transaction atmosphere is poor. TISCO has high inventory pressure and price reduction. 304 is still a loss, 201 and 430 are profitable. At present, the increase in production is mainly concentrated in the 200 series. Stainless steel fundamentals: supply exceeds demand. Stainless steel and coke, hot coil, thread trend is similar. The demand for steel in the infrastructure and construction sectors is very weak, and after the resumption of work during the Spring Festival, it is still a drag on demand as a whole. On the supply side: 200 series of southern steel mills decreased in February, and increased by about 20w tons in March. There is a lot of stock in the hands of 200 series traders. The overall transaction of the 200 series weakened, and the wait-and-see sentiment was dominant. Although the 300 series fell, it fell by 200 pieces from last week, which was narrower than last week. Tsingshan has control over the distribution of goods. For agents with high inventories, stop sorting. For social inventory began to be controlled. Price wars among traders. If the agent has no willingness to pick up the goods, he will lose money when he picks up the goods. The 400 series is also on the downside, which is more optimistic than the 200 series. Social inventory, spot prices are expected to be bearish next week. Raw material side: ferronickel: steel mill procurement is weak, and the output may decline in April, and the output in March is less than expected. Scrap steel: prices are down, and retail investors' willingness to sell after the Spring Festival has increased significantly. Scrap stainless steel and high-nickel pig iron, high-nickel pig iron has more advantages, and high-nickel pig iron is weak.