The stainless steel coil 316L still has a relatively low pressure.
This week, the supply and demand fundamentals of stainless steel coil 316L were weak. Inland inventories continued to accumulate, and terminal transactions in Jinan remained below the monthly average. The loose supply and demand conditions led to a price reduction for 316L stainless steel coil.
Regional differentiation was particularly prominent: The transaction volume in the Qingdao port area was high, and the 316L stainless steel coil showed a slight decrease in inventory. The market had stronger resilience; it was mainly for local construction sites with insufficient production and weak sales, resulting in significant inventory accumulation of 316L stainless steel coil, and the downward pressure on prices was relatively large.
The market sentiment for 316L stainless steel coil was cautious. Steel mills actively lowered their guidance prices to facilitate sales, but only Wuxi saw concentrated replenishment in the middle of the week, and Shanghai's willingness to purchase was low. Coupled with the slight increase in total inventory of steel mills, 316L stainless steel coil traders generally held a wait-and-see attitude, and there was very little speculative purchasing.
Looking ahead next week: 316L stainless steel coil still have a weak pressure.
In the short term, there is unlikely to be a strong rebound in the 316L stainless steel coil market in Wuxi. Inland 316L stainless steel coil had high inventories and the recovery of terminal demand was slow, resulting in a weak pressure on the price of 316L stainless steel coil. Subsequently, it is necessary to pay close attention to the progress of inventory reduction of 316L stainless steel coil.
