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[SMM April 29 stainless Steel spot] the prices of stainless steel in Wuxi are stable. The transaction atmosphere of spot resources in South China is light.
Apr 29,2020 11:55CST
translation
Source:SMM
The content below was translated by Tencent automatically for reference.

SMM4, 29th:

Wuxi stainless steel: today, the price of stainless steel in Wuxi is stable, 3042B rough edge roll price 1280013300 yuan / ton, 3042B state edge cutting 13200-13400 yuan / ton, 304.1 12600-12900 yuan / ton. As Labour Day holiday approaches, trading in the spot market is flat and prices are stable. Most traders have a wait-and-see attitude towards the future. After the supply of steel mills arrives in the market in May, they have to judge the price trend by looking at the overall demand situation. The position of the SS2006 contract continued to decline sharply this week, as of today's lunch break, the SS2006 contract fell below 12800 yuan / ton, the top 5 / 10 moving average resistance is strong, showing a weakening trend. And the SS2007 contract has become the main position contract. For 10:30 SHFE SS2006 contract price 12945 yuan / ton, Wuxi stainless steel spot water 25-525 yuan / ton. (spot trimming = rough edges + 170 yuan / ton)

(10:30 liter discount area in Wuxi area on that day)

Foshan stainless steel: pre-festival spot resources in South China transaction atmosphere is light, although there are traders pre-festival replenishment, but the downstream demand release performance is still worried, so the post-festival market wait-and-see sentiment increases, it is expected that short-term steel prices may be stable to make a profit mainly. Foshan area steel quotation, the state-owned 304 2B trimming volume price is more stable than yesterday's average price at 13500-13700 yuan / ton, private 3042B rough edge volume price is more stable than yesterday's average price at 1295013150 yuan / ton, 304 / NO. 1 five feet quotation is more stable than yesterday's quotation at 12600-12800 yuan / ton, the 10:30 SHFE SS2006 contract selling price 12945 yuan / ton, Foshan stainless steel spot water 175-375 yuan / ton. (spot trimming = rough edges + 170).

(10:30 discount area in Foshan area on that day)

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