On February 25, the stainless steel market was relatively sluggish, with limited inquiries and low trading volume, reflecting a lack of market vitality.
As of 10:30, the SHFE stainless steel most-traded contract SS2505 was quoted at 13,210 yuan/mt. The spot premiums for Wuxi stainless steel ranged from -40 to 260 yuan/mt. Note: Spot trimmed-edge price = Mill-edge price + 170 yuan/mt.
In the spot market, stainless steel spot prices for different grades were as follows: 201/2B coil (Wuxi, Foshan) ranged from 7,700 to 7,800 yuan/mt, with an average price of 7,750 yuan/mt, unchanged from the previous day. 304/2B coil (Wuxi, Foshan, and other regions) ranged from 13,000 to 13,800 yuan/mt, with a nationwide average price of 13,170 yuan/mt, remaining stable overall. The nationwide average price of 316L/2B coil was 24,125 yuan/mt, while the average price of 430/2B coil in Wuxi was 7,400 yuan/mt. In Foshan, there were slight fluctuations, with the nationwide average price at 7,395 yuan/mt, showing a slight decline from the previous day.
Currently, stainless steel market inventory remains high, with relatively ample supply, while demand recovery is slow. Downstream industries such as construction, home appliances, and kitchenware show weak purchase willingness for stainless steel, making it difficult for the market to see significant trading volume. Under such prominent supply-demand imbalances, stainless steel prices lack upward momentum, and the market is likely to maintain a fluctuating downward trend in the short term. Market participants should closely monitor raw material price changes, downstream demand recovery, and futures market trends to adjust their business strategies in a timely manner.
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