Hot rolled stainless steel plate spot price again up 15000 RMB

1. Oecd: High inflation will increase global GDP by only 2.7% this year

The global economy will recover slowly from the shock of the pandemic and the Russia-Ukraine conflict, the OECD said, while remaining plagued by persistent inflation and restrictive policies by major central banks seeking to contain inflationary pressures. According to the organization's latest Economic Outlook, global output will grow by 2.7% this year and only marginally by 2.9% in 2024, both below the 3.4% average of the seven years before the pandemic. It is worth mentioning that the recovery in the United States and the eurozone will also be relatively slow, and inflation will be stronger than in 2019.
2. In the first five months, China's export growth rate fell back to the United States and continued to decline
Data for the first five months of this year show that trade between China and the United States, the country's third largest trading partner, continued to contract: the total value of bilateral imports and exports in the first five months was 1.89 trillion yuan, down 5.5 percent, accounting for 11.3 percent. Among them, the export to the United States was 1.38 trillion yuan, down 8.5 percent; 508.29 billion yuan of imports from the United States, up 3.9%; Its trade surplus with the US was 870.57 billion yuan, down 14.5%. Compared with the data of the previous four months, the proportion of China's total trade with the United States increased slightly, and the decline in exports expanded while imports continued to grow, which also led to the narrowing of the trade surplus with the United States.
Gains in metals were capped by weak U.S. economic data that continued concerns about economic growth. Lun nickel oscillations, the end continued to pull up, overnight up 550 close 21505.
Under the influence of nickel, Stainless Steel Pipe futures rose 45 to close at $15,225 / ton, and the current downstream demand is still weak, and under the stimulus of rising prices, there are some replenishment demand releases in the trade link.
Yesterday, 304 Stainless Steel Plate with spot directly opened, the offer again at 15000 yuan/ton, spot only rose slightly but reflects the determination of the market spot to stick to 15000 yuan/ton integer mark, but only the rising heart is difficult to support, and returned to the past price after noon.
The mainstream price of 304 cold-rolled Stainless Steel plate market is 14800-15000 base, and the price of 304 hot-rolled stainless steel plate is near 14650-14750 yuan/ton; 201 Cold-rolled j1 stainless steel plate walks near 9150-9250, and hot-rolled stainless steel plate walks at 8800-8900 yuan/ton.