The weak reality has suppressed the extent of the rebound in the price of stainless steel coil 316L.
The prices of crude oil and other energy sources remain high, and the costs of bulk commodities are relatively high. As the Federal Reserve's interest rate meeting in June approaches, Fed officials have become more "hawkish", and the expectations for capital investment have declined. Currently, the domestic coal and coke market is gradually stabilizing. The resumption of coal production has alleviated the supply anxiety, but short-term production remains tight, and the capacity has not yet returned to the previous level. There are rumors that the fifth round of coke price increase for stainless steel coil 316L is about to be implemented, and the increase is expected to expand. However, the spot trading of stainless steel coil 316L is not smooth, and most traders are cautious and wait-and-see. The future trend of the price of stainless steel coil 316L pipe will be where?
In the second half of May, steel demand continued to be weak, supply increased, and the actual demand decreased. The stainless steel coil 316L industry remained oversupplied. The long-term actual demand of stainless steel coil 316L was lower than that of the same period last year, and combined with the impact of the widespread rainfall across the country, the actual demand of stainless steel coil 316L continued to decline. Meanwhile, the international situation remains unstable, and the export orders of stainless steel products are suppressed. The characteristics of the off-season gradually emerge, and the negative impact on steel prices is significant.
Due to the suspension of coal production, the supply of coal has decreased, and the sentiment of coking coal has improved, leading to a slight rebound in the black sector. However, the supply and demand contradiction in the stainless steel coil 316L pipe market has gradually emerged, with pressure from the top, and the overall driving force of the market is not strong. The orders from the downstream terminal market are gradually decreasing, and the rebound height of the price of stainless steel coil 316L pipe is constrained by the weak reality. Due to the high temperatures in the north and the rain in the south, the progress of outdoor construction is restricted, and the merchants' purchase enthusiasm is not high. The stainless steel spot supermarket network predicts that the price of stainless steel coil 316L will stabilize and slightly decline tomorrow.
