Stainless Steel Market Prices Decline With Mediocre Transactions; Future Market Expected to Fluctuate Rangebound [SMM Stainless Steel Spot Daily Review]

March 19—

According to the SMM survey, stainless steel market prices on March 19 remained stable to slightly downward. The most-traded 2505 futures contract fluctuated downward as the transfer to delivery warehouse progressed, leading to a price decline. At 10:30 a.m., the SS2505 was quoted at 13,450 yuan/mt, down by 95 yuan/mt. In Wuxi, the spot premiums/discounts for 304/2B ranged from -70 to 290 yuan/mt.

In the spot market, the price of 201/2B coils declined. The average price in Wuxi was 7,810 yuan/mt, down by 10 yuan/mt from the previous day, while in Foshan, the average price was also 7,810 yuan/mt, with a larger drop of 20 yuan/mt. For 304/2B coils with mill edge, the average price in Wuxi was 13,460 yuan/mt, down by 10 yuan/mt, while in Foshan, the average price remained unchanged at 13,350 yuan/mt. The price of 316L/2B coils was relatively stable, with average prices in Wuxi and Foshan at 24,125 yuan/mt and 24,175 yuan/mt, respectively, showing no changes. For 430/2B coils, the average price in Wuxi was 7,440 yuan/mt, and in Foshan, it was 7,330 yuan/mt, with prices in both regions remaining steady.

Demand side, the downstream market remained weak, with purchasing activities primarily focused on meeting immediate needs. Overall market transactions were mediocre, failing to provide strong support for prices.

For any inquiries regarding stainless steel, please contact Yang Chaoxing at 021-20707860 or 13585549799 (WeChat available).

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