Reasons Stainless Steel Costs Substantially More in 2021

The price of stainless steel in July hit a new historical high, rising to an indescribable level, and the spot price broke through 20,000 yuan. What are the factors leading to the surge in stainless steel? There are four reasons for the surge:

The stainless steel market has been rising sharply since last Saturday. In two days, the price of 304 stainless steel has risen by 400-800 yuan cumulatively, and it has risen by 1800-2500 yuan in a week. I personally feel that the main reason for the price increase of stainless steel is: on the one hand, it was stimulated by the news of the “steel mill reduction notice”, and worried about the shortage of supply in the future; on the other hand, the focus is that the current market has a pitiful spot. The third is the increase in the cost of raw materials. The three most important elements of stainless steel, nickel, chromium, and molybdenum, are all rising sharply. Fourthly, the late arrival cost of traders is getting higher and higher, and only a price increase can ensure that they make money or not lose money. This is the cause of the surge in stainless steel.