China's stainless steel spot price rebounds, supporting short-term costs
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Update time : 2022-12-08 21:07:21
Due to the recent strength of China's stainless steel futures and the impact of various factors such as the rebound in the value of the renminbi, the spot market, which has been sluggish for many consecutive days, ushered in an upward trend again. It is approaching the end of the year, and this market rally is worth looking forward to.
Following the continuous reduction of inventory in China's stainless steel market in November, the Foshan market began to dominate at the beginning of the month, the market arrivals began to increase, and the out-of-stock situation decreased.
As the price of futures has remained strong in the near future, the price of spot goods has mostly followed the growth, and the rate of rise of spot goods is difficult to keep up with the progress of futures.
On the whole, with the decrease in demand, the drop in raw material prices, and the increase in market inventory, there is still room for spot prices to fall, but it will be difficult to show a significant decline in the short term under the support of the cost of holding goods.
