Stainless steel: On October 11, according to SMM research, today’s stainless steel futures prices have recovered slightly compared with yesterday. The spot prices of cold and hot rolling are still declining. The price reduction of cold rolling is smaller. The price of hot rolling in Wuxi has dropped by about 150 yuan/ tons, the hot and cold price difference has recovered; recently there have been a lot of cancellations of warehouse receipts, the transaction of non-standard low-price warehouse receipts in the spot market is acceptable, and the spot transaction remains light. The current social inventory and factory warehouses are both high, and it is difficult for agents to ship goods. Increase the size but have less willingness to take delivery. A large trader in Foshan closed the market in the afternoon. The trading atmosphere in Foshan has improved and the cold-rolled price has increased slightly. It is expected that it will be difficult for stainless steel prices to rise in the short term and will remain weak. 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 14,300-14,400 yuan/ton. The price of 316L cold rolled steel in Wuxi area is 26,700-27,400 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 8400-8500 yuan/ton. SHFE10: The contract price of 30-minute SS2310 is 14,590 yuan/ton, and the spot price of Wuxi stainless steel is 500-800 yuan/ton. (deburred edge products = burred edge 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
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