Stocking of stainless steel downstream manufacturers in China gradually picking up
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Update time : 2022-12-28 20:00:51
In the last week of 2022, Tsingshan Holding Group lowered the futures price of AISI 304 for 2023/January-February delivery, hoping to digest the inventory as much as possible before the Chinese New Year and ease the pressure.
At present, due to the severe epidemic in China, it is difficult to predict the market trend after long holidays, then most downstream companies have postponed their replenishment. However, some traders are still optimistic about the demand recovery in the future, coupled with lower inventory, and the status of futures orders is acceptable.
Besides, the current sales atmosphere of private steel mills in Foshan and Wuxi is getting better now. The spot price before the Chinese New Year has not fluctuated much, and the market still needs to pay attention to the futures price.
