Foshan Market News, August 12, 2021, since Black Monday, the three-day stainless steel market has lost its vigor. Constantly falling, chasing goods and paying.

However, with the surge in nickel nickel and the rebound in stainless steel futures last night and today, as well as the fermenting of a bunch of true and false news about "Guangqing Steel Plant's production reduction and suspension", the spot market confidence has been restored today. At the end of the afternoon, the stainless steel futures 2109 contract closed up 260 yuan to 18535 yuan/ton.

Looking at today's stainless steel market, although no steel mills take the initiative to open the market, the doors for steel mills to take orders are also open. Moreover, the steel mill agent ushered in a great sound of taking orders. 1

1. 304 hot-rolled narrow strip is very popular

It is understood that Tsingshan agent today took orders according to "304 hot-rolled narrow strips in September at 17800 cold-rolled (billed billets) and 18,000 hot-rolled". According to rough statistics, the Foshan market should have about 30,000 tons of orders.
One week, the first 3 days did not sell, and on the fourth day, individual agents even had to complete the quantity. The remaining amount of other agents is also kept in stock. Judging from the currently predictable supply, the supply of 304 hot-rolled narrow strip will still be in short supply for the rest of August.
Even if the price fell sharply some time ago, the spot supply in the market does not appear to be sufficient.