[SMM Analysis] Nickel Price Down Market Price of stainless Steel and scrap follows the decline

SMM, 18 October:

Today, Wuxi area, 304 hot rolling coil price quoted 15100 yuan / ton, down 150 yuan / ton compared with the beginning of the week; 304 rough edge cold rolling coil price quoted 15950 yuan / ton, down 150 yuan / ton from the beginning of the week. In Foshan area, 304 hot rolling was quoted at 15200 yuan / ton, down 50 yuan / ton compared with the beginning of Zhou Dynasty, and the rough edge roll price of 304 cold rolling was quoted at 15650 yuan / ton, which was reduced by 150 yuan / ton compared with the beginning of Zhou Dynasty.

Nickel prices have fallen continuously this week, stainless steel due to cost support, the trend is weak and stable, but the transaction atmosphere is weak, Foshan area has some businesses low prices, so the market has appeared on the low side of the price. Some traders said that stainless steel market prices will be weak in the short term.

The price of waste stainless steel has been lowered continuously this week. Today, the price of waste stainless steel is 10300 yuan / ton, down 150yuan / ton from the beginning of the week, 4300 yuan / ton from the beginning of the week, and 3700 yuan / ton from the beginning of the week. 50 yuan / ton lower slightly than at the beginning of the week.

According to research and understanding, due to the decline in nickel prices, stainless steel raw materials nickel iron prices also fell, coupled with stainless steel finished products market transactions light, some traders said that the price trend of scrap stainless steel in the later period is on the weak side.

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