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[SMM October 22 stainless Steel spot] Foshan Market shipment pressure increases significantly expected short-term stainless Steel Market weak Operation
Oct 22,2019 11:11CST
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Source:SMM
The content below was translated by Tencent automatically for reference.

SMM10, 22nd:

Wuxi stainless steel: this morning Wuxi area quotation: state-owned 304 2B edge cutting volume price is 16050-16250 yuan / ton, private 304 2B rough edge roll price 15800-15900 yuan / ton. 304 / NO. 1 five feet at 14950-15050 yuan / ton. Nickel prices fell, dragging down stainless steel prices, demand failed to support the case, agents and traders comply with the trend, in the morning Wuxi market private cold and hot rolling fell 50 yuan / ton. For 10:30 SHFE SS2002 contract selling price 14850 yuan / ton, Wuxi stainless steel spot water 820-920 yuan / ton (spot edge cutting = rough edge + 170 yuan / ton)

 

Foshan stainless steel: in the morning Foshan stainless steel market state 3042B trimming volume price fell 250 yuan / ton from yesterday's market price to 16200 yuan / ton; private 3042B rough edge roll price fell 50 to 15500 yuan / ton from yesterday; today's 304 / NO. 1 five-foot roll price continued to drop by 50 yuan / ton from yesterday's average price to 15100 yuan / ton. Foshan cold, hot rolling market quotation this morning compared with yesterday's average price continues to decline, the decline of nickel, so that the stainless steel market into a weak stage, according to SMM, the current market shipment pressure has increased significantly, it is expected that the short-term stainless steel market weak operation. For 10:30 SHFE ss2002 contract selling price 14850 yuan / ton, Foshan stainless steel spot water 420-620 yuan / ton (spot edge cutting = rough edge + 170 yuan / ton)

 

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