304 stainless steel plate market may stabilize and weaken

Judging from the current situation, the local market is currently facing the rainy season, when demand will be even more sluggish, resulting in further decline in prices. It is expected that the price of building materials in some parts of the country will continue to decline slightly in a short period of time. Although the upstream prices continued to fall, the local small and medium-sized tube market prices continued to stabilize. On the contrary, the large tube market prices fell slightly. Traders reported that the recent market demand is still weak, and the lack of outdoor projects has led to poor shipments, which will continue to consume in the near future. Mainly inventory, replenishment operations are more cautious. It is expected that the local 304 stainless steel plate will be weak and stable in the short term.

From the market point of view, merchants have not made a significant breakthrough in their shipments since the beginning of May, and their mentality is pessimistic. Recently, the steel market has been weak in rebounding in price. In terms of inventory, under the current market conditions, downstream demand has gradually entered a wait-and-see attitude, and merchants are not motivated to store goods. Currently, local merchants have inventory at around 2,000 tons, and the follow-in and follow-out strategy remains unchanged. Considering the weakening of upstream cost support, manufacturers and downstream operations are becoming cautious, and the 304 stainless steel plate market may weaken steadily. The price of hot-rolled coils in Anyang market is temporarily stable. Today, the mainstream of the domestic market has stabilized, and local businesses have temporarily stabilized their quotations, waiting to see the development of the market. In terms of resources, the current resources of 304 stainless steel plate are not too much. Most businesses have incomplete resource specifications, and businesses will not increase more inventory in the short term, which will not cause great pressure on market price trends for the time being. 

In terms of market mentality, the recent weak market situation of supply and demand is still continuing, and in terms of the market environment, it is difficult to improve in the short-term deserted market. Fewer market transactions may continue to push market prices to remain weak and stable. Compared with the surrounding markets, the market is roughly the same. Although the market is not performing well, the merchants will continue to strive to stabilize the market development in the near future.