This year's stainless steel market can be described as turbulent and fluctuating. Especially the price fluctuations of 304 stainless steel, the most representative and best-selling steel type, have been rare in recent years. How will the price of 304 stainless steel go next? Let's take a look at the price increase this year. The price of private 304 stainless steel has increased from around 14300 yuan/ton at the beginning of the year to a peak of around 22000 yuan in mid October. The cumulative increase is nearly 8000 yuan/ton, with a rise rate of 53.8%.

The main raw material for stainless steel, nickel, has also seen a significant increase. Shanghai nickel futures have risen from around 118000 yuan at the beginning of the year to a maximum of 160000 yuan/ton, with a cumulative increase of 52000 yuan/ton, a rise of 44.1%

Since the end of October, with the regulation of coal, commodity prices have fallen, and of course, the price of stainless steel has not avoided the decline. The price of 304 stainless steel plate has basically dropped by nearly 3000 yuan/ton from its high point to now. In less than a month, the decline is still quite significant. From the current prices, it should be a suitable time for downstream demand procurement. On the one hand, the price of stainless steel has dropped significantly in this round, and a correction in price is also possible at any time; On the other hand, the situation of delayed supply from some steel mills and insufficient stock in the market has not changed. The biggest factor causing the significant decline in this round is still psychological expectations, combined with arbitrage and selling in the futures market. The price of nickel has risen nearly $1000 for three consecutive days, breaking through $20000 and closing at $20275 per ton.

During this period, customers often ask how the price of 304 stainless steel will go in the future, whether it will continue to fall or rise? We estimate that it may continue to decline in the long run. But in the short term, the price has dropped by nearly 3000 yuan/ton, and it is not ruled out that there may be a slight rebound and an upward adjustment. Currently, it should be the time for downstream procurement, and the specific decision depends on the company's own situation. For reference only, not used as a basis for ordering. Price List of Wuxi Jiachuang 304 Stainless Steel Plate on November 23, 2021:

Due to significant changes in market conditions and inventory resources, please consult sales personnel for accurate pricing.