As July progressed, the seasonal factors further exerted pressure on the demand of Chinese 316L stainless steel sheet manufacturers, and the pessimistic trend in the market remained unchanged. There is still room for further observation regarding the expected limited production cuts in the north. Whether there is a substantive change in supply and demand remains uncertain. The overall market sentiment of Chinese 316L stainless steel sheet manufacturers is relatively weak. It is expected that the short-term Chinese 316L stainless steel sheet market will experience a weak and fluctuating pattern of oscillation.

The futures market showed a trend of weakening and fluctuation. The spot prices of Chinese 316L stainless steel sheets declined slightly. The downstream terminals mainly conducted necessary replenishment of inventory. The trading volume slightly decreased compared to the previous working day. The traditional consumption off-season has deepened, and the demand release intensity of Chinese 316L stainless steel sheet manufacturers gradually weakened. The supply pressure slightly increased, but the cost end provided strong support, providing bottom support for the spot prices. The price fluctuation space was relatively limited. Kang Zengtai Materials Group predicts that the spot prices of Chinese 316L stainless steel sheet manufacturers will continue to maintain a narrow range of oscillation in the short term.

The prices of raw material tubes and blanks continued to show a narrow downward trend, and the cost support further weakened. The off-season market continued, with weak transactions and more demand-based purchases by the downstream. In the short term, the mismatch between supply and demand of Chinese 316L stainless steel sheet manufacturers will not change, and the market sentiment remains cautious. Traders are mostly reducing prices and selling goods at discounted prices. It is expected that the prices of Chinese 316L stainless steel sheet manufacturers will stabilize and weaken slightly tomorrow.