The 304 steel sheet continued to decline in the second quarter, and the long-term upward trend of ferrochrome is easily suppressed

After the release of the US tariff policy in April, the sentiment of 304 steel sheet was severely disturbed. On April 7th, both stainless steel and Shanghai nickel on the Shanghai Futures Exchange fell by the limit down, with a daily closing decline of 3.87%. Subsequently, due to weak terminal demand, futures operated at a low level in the range of 13000 yuan/ton. Affected by the sentiment of futures decline, the current inventory gradually decreased by nearly 13000-13100 yuan/ton, and the profit margin of stainless steel was low. The average profit margin of the 304 cold-rolled and purchased high nickel iron process in April was -2.93%. Some steel mills had severe cost inversion and reduced production, which urgently needs to be boosted by the end of month Politburo meeting to boost confidence in the current sluggish market.