[SMM Stainless Steel Daily Review] SS Futures Stopped Falling and Rebounded, Stainless Steel Spot Prices Rose Accordingly

게시됨: Mar 20, 2026 15:04

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[SMM Stainless Steel Daily Review] SS Futures Stopped Falling and Rebounded, Stainless Steel Spot Quotations Rose in Tandem

SMM News, March 20: SS futures stopped falling and rebounded. Base metals futures generally recovered, with SS futures showing particularly strong performance and basically recouping this week’s losses, closing at 14,160 yuan/mt by the midday close. In the spot market, driven by the strong rebound in SS futures and coupled with stainless steel mill agents’ efforts to hold prices firm, stainless steel retail quotations also moved higher accordingly; supported by improving market sentiment, both inquiry activity and trading picked up. High-grade NPI prices remained in the doldrums, and the steel mill tender price for high-carbon ferrochrome was announced below market expectations, leaving weak cost support for stainless steel.

The most-traded SS futures contract stopped falling and recovered. At 10:15 a.m., SS2605 was quoted at 14,150 yuan/mt, up 220 yuan/mt from the previous trading day. Spot premiums for 304/2B in Wuxi were in the 220-420 yuan/mt range. In the spot market, the average price of cold-rolled 201/2B coil in Wuxi rose by 50 yuan/mt; for cold-rolled trimmed 304/2B coil, the average price in Wuxi rose by 100 yuan/mt, and the average price in Foshan rose by 50 yuan/mt; cold-rolled 316L/2B coil in Wuxi was flat; hot-rolled 316L/NO.1 coil quotations in Wuxi were unchanged; cold-rolled 430/2B coil in both Wuxi and Foshan held steady.

Entering the traditional September-October peak season, although the stainless steel market ushered in a seasonal recovery window, end-use demand fell short of expectations, downstream wait-and-see sentiment gradually intensified, and procurement only...

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