Stainless Steel Prices Continued to Dip and Expected to Fall Further

SHANGHAI, Nov 22 (SMM) – The stainless steel futures prices showed a downward trend last week. Due to the influence of market news, the SS contract prices rose slightly in the middle of the week, but then edged down due to market pessimism.

At present, the stainless steel sector is in the traditional off-season, and the market transactions have declined significantly. The demand is pessimistic. On the supply side, the power rationing has gradually loosened and the supply gradually recovered, adding pressure to the already weak prices. The falling prices of raw materials and auxiliary materials have lowered the cost. These three factors are all exerting strong downward pressures on stainless steel.