Stainless Steel Social Inventory Keeps Falling on Robust Market Transactions
14:56 Sep 16, 2022 Source: SMM

SHANGHAI, Sep 16 (SMM) - In the first half of September, the spot and futures prices of stainless steel both rose significantly in the festival atmosphere, and the transactions also boomed with the downstream players willing to restock. On the other hand, the goods arriving in the market were small, and some specifications were out of stock, and there was also a certain amount of invisible stocks. Therefore, the market was in mild short supply. On the whole, the stainless steel social inventory fell palpably amid short-term mismatch between supply and demand. 

In the second half of September, the spot prices have shown signs of falling from high. On the supply side, the total output of steel mills is expected to increase, and the rhythm of market arrivals may return to normal. On the demand side, with the introduction of various favourable macroeconomic policies, capital liquidity has increased, and the market's expectations for consumption recovery have enhanced. Both supply and demand are likely to post slight increase, easing the supply tightness. But it is still necessary to be alert to when the invisible stocks will become visible. It is expected that the stainless steel social inventory in Wuxi and Foshan will keep falling at the same speed seen in the first half of September. 

As of September 15, the total social inventory of stainless steel stood at about 693,000 mt, a MoM decline of about 7% and down 7% from the previous half a month. The inventory of 200-series stainless steel lost 12,500 mt to 155,800 mt, a month-on-month decrease of 14%, and a drop of 7.41% from the previous half. The inventory of 300 series fell 30,300 mt, a month-on-month fall of 14.4%, and down 7.06% from the previous half. The inventory of 400-series declined 6,600 mt, a monthly decrease of 12.25%, and down 6.13% from the previous half.

Key Words:  Inventory 
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