This week, because the domestic raw material market prices fell, the import billet market has slightly improved compared to last week, so it can be predicted that in the second half of this week, the price decline of Polished bright surface 316 stainless steel round bar will be slower.
Since the price of scrap steel is relatively high, the price of Polished bright surface 316 stainless steel round bar is mainly stable, so both the supply and demand sides are in a wait-and-see state. Although the market price has dropped significantly recently, many steel mills and suppliers There is still a lack of confidence, mainly because of financial pressure and overcapacity, many manufacturers and suppliers are afraid to sell easily.
However, considering that the current market price has dropped significantly, the supply pressure in the later market is relatively relieved, and many stainless steel manufacturers still need to replenish their warehouses. Therefore, it can be expected that the market price may rise slightly next week, especially with the fluctuation of scrap steel prices. main.
From the perspective of the reasons for the decline, it is mainly due to the impact of economic transformation, weak demand in the real estate market, and falling raw material prices. From the perspective of the industrial chain, the market of Polished bright surface 316 stainless steel round bar is in a state of oversupply.
The downstream demand for finished steel is the core reason that affects the market price of the entire Polished bright surface 316 stainless steel round bar. Demand for steel has fallen. As a result, prices have also shown a weak downward trend, and many steel mills have also changed their procurement models, mainly on-demand procurement.
According to market feedback, there are also some suppliers whose supply of steel has declined due to the previous low-price sell-off, which has also led to a slowdown in the recent downward trend in prices. In terms of demand, steel prices are expected to return to a relatively stable state due to the rising demand for replenishment of end-users.