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[SMM spot Information] Daily Review of stainless Steel in Wuxi area on April 16, 2020
Apr 16,2020 12:12CST
The content below was translated by Tencent automatically for reference.

SMM4, 16 March:

SMM, April 16-SMM: today, 304 private cold rolling in Wuxi is quoted at 12900-13000 yuan / ton, the average price is raised by 150 yuan / ton, and hot rolling is increased by 200 yuan / ton to 12500-12700 yuan / ton. Recently, the price of cold and hot rolling of 300 series stainless steel has been adjusted continuously. Yesterday, the steel mill announced that the price of cold and hot rolling in May was also increased by 400-500 yuan / ton, and that of Qingshan 304 hot rolled plate was increased by 500 yuan / ton to 12400 yuan / ton. Yongjin 304 four-foot cold rolling was quoted as 12600 yuan / ton, up 400 yuan / ton. However, the cold rolling price is still weak, the market low price is quoted at 7200 yuan / ton, traders said that the actual transaction or there is still a profit.

According to traders, steel mills now limited delivery of orders, the current Hongwang, Yongjin brand 304 cold rolling market circulation has a less trend, further leading to a stronger price. Now the market has different views on the late price trend, some operators hold a wait-and-see attitude, that the price is on the high side; some traders are still expected to be bullish in the near future.

For 10:30 SHFE SS2006 contract price 12765 yuan / ton, Wuxi stainless steel spot water 305-405 yuan / ton. (spot trimming = rough edges + 170 yuan / ton)

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