2024

The overall market sentiment has weakened, and stainless steel futures prices are experiencing fluctuations and corrections.

On a macro level, the U.S. CPI in May fell more than expected, leading the market to raise expectations for a Federal Reserve interest rate cut. The non-ferrous metals sector rebounded overall, and the Federal Reserve announced its interest rate decision, with attention on the dot plot and economic outlook indicators. Domestically, May's export performance exceeded expectations, but the PMI data fell more than expected, indicating that the foundation for domestic economic recovery still needs to be solidified, with a focus on the subsequent policy efforts.

(1) On the macro front, the U.S. CPI in May fell more than expected, leading the market to raise expectations for a Federal Reserve interest rate cut. The non-ferrous sector rebounded overall, and the Federal Reserve announced its interest rate decision, focusing on the dot plot and economic outlook indicators. Domestically, May's export performance exceeded expectations, but the PMI data fell more than expected, indicating that the foundation for domestic economic recovery still needs to be solidified, with attention on subsequent policy efforts.

(2) From a fundamental perspective, stainless steel futures are experiencing fluctuations and corrections, with overall market sentiment weakening. The cost support for stainless steel remains, while downstream purchasing sentiment is average, and steel mills maintain high production levels, with attention on raw material supply conditions. This period saw an increase in stainless steel social inventory compared to the previous month, with terminal feedback on demand being average, and futures warehouse receipts rising to historical highs, focusing on downstream consumption and inventory destocking.

Overall, the U.S. CPI in May fell more than expected, leading the market to raise expectations for a Federal Reserve interest rate cut. The non-ferrous sector rebounded overall, and the Federal Reserve announced its interest rate decision, focusing on the dot plot and economic outlook indicators. Domestically, May's export performance exceeded expectations, but the PMI data fell more than expected, indicating that the foundation for domestic economic recovery still needs to be solidified, with attention on subsequent policy efforts. Indonesian mineral prices remain high, nickel iron prices are stable, and stainless steel costs are supported, but steel mills continue to produce at high levels, with stainless steel futures warehouse receipts continuing to rise, focusing on raw material supply conditions. In the short term, macro sentiment is cooling, but support for stainless steel raw materials remains, with stainless steel futures experiencing fluctuations and corrections, and volatility increasing. Key attention should be paid to changes in raw material prices and inventory destocking conditions. It is recommended to remain cautious in operations, engage in short-term trading, and pay attention to risk control.

In-depth analysis of the stainless steel industry market: China's stainless steel consumption potential is enormous.

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In-depth analysis of the stainless steel industry market: China's stainless steel consumption potential is enormous.

What is the impact of stainless steel production in our country on the stainless steel pipe industry?