On the supply side, in February 2023, the production 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.