Stainless Steel Market Returns to Fundamentals

Stainless steel: On October 18, according to SMM research, stainless steel futures fluctuated today. The support for stainless steel futures from the raw material side has weakened recently. The market has mostly returned to fundamentals. The transactions in the spot market during the day are relatively average. The spot price is mostly stable. Some trades The price of steel strips from merchants and agents has dropped slightly by about 50-100 yuan/ton. The volume of shipments during the week decreased slightly compared with last week, and the inventory was overall destocked. Stainless steel is expected to operate stably, and we will pay attention to the production reduction of steel plants in the future. In the morning of that day, the price of 304 cold rolled steel in Wuxi area was 14,900-15,200 yuan/ton. The price of 304 hot rolled steel in Wuxi area is 14,400-14,500 yuan/ton. The price of 316L cold rolled steel in Wuxi area is 26,200-26,700 yuan/ton. The price of 201J1 cold rolling in Wuxi area is 8850-8950 yuan/ton. The price of 430 cold rolled steel in Wuxi area is 8350-8450 yuan/ton. SHFE10: The contract price of 30-minute SS2310 is 14,835 yuan/ton, and the spot premium of Wuxi stainless steel is 235-535 yuan/ton. (Deburred Edge Products =Bur Raw Products + 170 yuan/ton).

Written by SMM Nickel Research, if you have any questions about the nickel market, please don't hesitate to talk with me Fancyli@smm.cn