Stainless Steel Market Continued to Rise, Spot Prices Were Under Pressure [SMM Stainless Steel Spot Daily Review]

On August 27, according to an SMM survey, stainless steel futures performed well. The market was active in inquiries and transactions in the morning, with both 304 cold and hot rolled stainless steel prices slightly increasing by 50 yuan/mt. However, the price spread between cold and hot rolled stainless steel stays narrow, and there are still many low-priced warrants available, causing spot prices to be under pressure and difficult to rise further. In the morning, 304 CRC in Wuxi was quoted at 13,750-14,100 yuan/mt, and 304 HRC in Wuxi was quoted at 13,350-13,450 yuan/mt. 316L CRC in Wuxi was quoted at 24,700-25,100 yuan/mt. 201J1 CRC in Wuxi was quoted at 8,400-8,500 yuan/mt. 430 CRC in Wuxi was quoted at 7,800-7,900 yuan/mt. At 10:30, the SHFE SS2410 contract price was 13,885 yuan/mt, and Wuxi stainless steel spot premiums were -15 to 385 yuan/mt. (Spot cut edge = uncut edge + 170 yuan/mt).