SMM, May 25 / PRNewswire-Asianet /-
After the joint high price of the steel mill lasted for half a month, the transaction in the lower reaches turned worse, and some agents secretly dropped the goods. Recently, the steel mill lowered the guiding price of 50 to 100 yuan / ton, but under the background of high inventory and weak demand, downstream is still rigid demand to take goods, cautious procurement.
In late April, the average loss of 3-series stainless steel plants began to narrow, and by the middle of May, the loss of 3-series stainless steel narrowed to 210 yuan / ton, with a profit margin of-2%. Because the price drop of high nickel pig iron and high carbon ferrochromium from April to May is greater than that of 3 series stainless steel, the price of stainless steel is stable and the loss continues to narrow. According to SMM research, steel mills do not have a large area maintenance and production reduction plan in June. At present, only a steel plant with an annual production capacity of 1.2 million in East China plans to reduce production by 3000 tons and 316L in June, or will switch to other departments. Stainless steel social stocks are expected to continue to operate at medium and high levels in June.
China's net stainless steel exports fell 55 per cent to 87000 tons in March, mainly because Indonesian stainless steel imported a large amount of stainless steel ahead of customs clearance. According to customs data, only Indonesia imported 4200 tons of stainless steel in April, a decrease of 96.93 percent from March and 95.70 percent from the same period last year. China's net stainless steel exports are expected to pick up slightly from April to May.
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