As an important raw material for melamine compression molds, steel market price has attracted much attention. Today, Shunhao Mould Factory will share with you the latest stainless steel price trend.

As of March 7, driven by the surge in London nickel, many Shanghai nickel contracts closed the daily limit, and the downstream spot price of stainless steel reached 20,073.33 yuan/ton ($3,181/ton), up 4.15% in a single day.

With the sharp rise of nickel, the price of stainless steel has also risen sharply.

1.    Some traders are reluctant to sell due to the difficulty in easing the shortage of resources in the short term, and some do not offer quotations.

2.    The downstream is also in the mentality of buying up and not buying down. There are many market inquiries, but the spot price is soaring, and it is difficult for the downstream to adapt for a while. Last week, the stainless steel community inventory appeared to be destocked, and the transaction has recovered.

This year, there are many new stainless steel production capacity, and it’s necessary to pay attention to the production of steel plants.

• The crude steel production schedule in March increased by 20.4% month-on-month, and the supply of steel mills is expected to be too high.
• Stainless steel prices are expected to remain strong in the short term.