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[SMM May 29 stainless steel spot] Wuxi stainless steel spot quotation continues to weaken, reduce Foshan steel prices steadily and make a small and medium profit.
May 29,2020 12:49CST
translation
Source:SMM
The content below was translated by Tencent automatically for reference.

On the 29th of the month of SMM5:

Wuxi stainless steel: today, the spot quotation of stainless steel in Wuxi continues to decline. The price range of 304 Universe 2B rough edge coil price is 13300 RMB13600 / ton, the average price is reduced by 50 yuan / ton; 304. 1 quoted at 12900Mel 13100 yuan / ton, the average price is reduced by 50 yuan / ton. The recent transaction is weak, and near the end of the month, hot and cold rolling prices continue to decline. At present, the price of cold rolling in the spot market is generally quoted at the base price of 13000 yuan / tonne. Some traders said that if trading in electronic disk, there can be a reduction in price to give a profit, and there is still a deal of 12900 yuan per ton. With regard to the current transaction form, some operators said that there may still be a trend of decline in transaction volume in June. For 10:30 SHFE SS2007 contract price is 13010 yuan / ton, Wuxi stainless steel spot water is 460 RMB760 / ton. (spot trimming = rough edge + 170 yuan / ton)

Foshan stainless steel: on Friday, the overall stable steel prices of all series once again made a small profit transaction, which basically fell at 50 won 100 yuan / ton. in addition, I heard that the mentality of price promotion in steel mills was slightly loosened, and most traders reflected that low prices might become the norm, so it is expected that stainless steel market prices will continue to run in a weak and stable trend in the short term. Foshan area steel quotation, the state-owned 304Universe 2B trimming curling price than yesterday's average price held steady at 14,100 million 14,300 yuan / ton, private 304Universe 2B rough edge curl than yesterday's average price reduced by 50 yuan / ton in 13200 NO. 13500 yuan / ton, 304 / NO. 1 five-foot quotation than yesterday's average price held steady at 12950 price 13150 yuan / ton, to 10:30 SHFE SS2008 contract selling price 13010 yuan / ton, Foshan stainless steel spot water 360,660 yuan / ton. (spot trimming = rough edge + 170).

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