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[SMM analysis] Post-section stainless steel market: spot market transactions generally downstream more on-demand procurement
Oct 10,2019 15:42CST
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Source:SMM
The content below was translated by Tencent automatically for reference.

SMM10, September 10: at 9: 00 a.m. on September 25, 2019, the world's first stainless steel futures was officially listed on the Shanghai Futures Exchange. Stainless steel is the most important kind of iron and steel in China's special steel industry. because of its good performance, stainless steel has been widely used in architectural decoration, transportation, aerospace, petrochemical industry, energy power generation, food processing, environmental protection, medical treatment and other fields.

The launch of the world's first stainless steel futures will help standardize the circulation order, promote the formation of an open and fair pricing mechanism, further enhance China's pricing influence in the international stainless steel market, and provide price risk management tools for relevant industry chain enterprises.

Since the 25th, stainless steel futures listed, the overall trend is stable, the main contract SS2002 period high for 26, once rose to 15935 yuan / ton, low for the first day of listing, once fell to 15280 yuan / ton. As of October 10, SS2002 closed at 15765 yuan / ton, up 0.64%.

In the spot market of stainless steel, according to the latest research of SMM:

Foshan stainless steel spot, today morning Foshan stainless steel market state 3042B trimming roll price is flat compared with yesterday's market price at 16150 yuan / ton; private 3042B rough edge roll price is stable at 15700 yuan / ton; today 304 / NO. 1 five feet roll price is quoted at 15200 yuan / ton; 430 cold rolling edge cutting roll price is stable at 8150 yuan / ton today. In the morning, Foshan cold and hot rolling prices are flat compared with yesterday, the market as a whole is general, downstream more on-demand procurement, it is expected that in the later stage of the steel market is stable and slightly adjusted, traders give priority to small profit delivery. For 10:30 SHFE ss2002 contract selling price 15690 yuan / ton, Foshan stainless steel spot discount 70-liter water 30 yuan / ton (spot edge cutting = rough edge + 170 yuan / ton)

Wuxi area stainless steel spot, according to SMM research, Wuxi area this morning private cold rolled stainless steel quotation slightly increased by 50 yuan / ton, but the actual transaction price is stable compared with yesterday: state-run 304 2B cut edge roll price 16100-16300 yuan / ton, private 304 2B rough edge roll price 15950-16050 yuan / ton. 304 / NO. 1 five feet at 15100-15200 yuan / ton. At present, the downstream demand is stable, after the festival a small amount of replenishment demand, the transaction is still OK. For 10:30 SHFE ss2002 contract selling price 15690 yuan / ton, Wuxi stainless steel spot water 130-230 yuan / ton (spot edge cutting = rough edge + 170 yuan / ton)

304 Volume 2B-trimming (Wuxi):

304 Volume 2B-trimming (Foshan):

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