According to the data shared by Shunhao Machine and Mould Factory, the raw material for making melamine tableware moulds---stainless steel continued to drop slightly this week. As of March 17, the daily average price of the spot 304/2B stainless steel flat plate was 14,900 yuan/ton (approximately US$2,183/ton), down 1.6% from 15,142.86 yuan/ton at the beginning of the week, and down 18.798% year-on-year.

According to the data, the price trend of nickel and stainless steel is basically the same. Recently, the price of stainless steel and nickel has been falling continuously.

This week's stainless steel inventory totaled 1.352 million tons, an increase of 0.14% from last week, of which cold-rolled inventories fell and hot-rolled inventories rose.

On the supply side, in February 2023, the output of 300-series crude steel of 41 domestic stainless steel plants with new caliber in China was 1.4831 million tons, an increase of 8.6% month-on-month and a year-on-year increase of 15.4%; An increase of 2.8%. However, recently, rolling coils have continued to lose money, and many steel mills have reported that they have stopped production for maintenance.

On the demand side, after the steel price fell, the warehouse receipt resources were digested quickly, but the overall demand was light, and the transmission from the trade link to the terminal was not smooth. The domestic economy is marginally recovering, and terminal consumption has recovered slightly. It is expected that stainless steel will still operate weakly in the short term.