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Stainless Steel Spot Discounts Appeared amid High SS Contract Prices
Apr 19, 2022 15:32CST
Source:SMM
Following the rising nickel prices, the SS contract reached the highest price of 20,600 yuan/mt, an increase of over 4%.

SHANGHAI, Apr 19 (SMM) - Following the rising nickel prices, the SS contract reached the highest price of 20,600 yuan/mt, an increase of over 4%. However, the Wuxi spot market did not echo the trend of the future. Prices of #304 cold-rolled coils stood at 20,200-20,500 yuan/mt. The Benchmark price of the private plant was basically around 20,000 yuan/mt. #304 hot-rolled coils were firm and quoted at 19,700-19,800 yuan/mt. The overall stainless steel spot trading was slack. On one hand, the shipment was hindered by transportation. On the other hand, weak downstream demand dragged down the market. Thus, traders proceeded with their business cautiously. Stainless steel spot discounts appeared amid high SS contract prices. As of 10:30 a. m. today, the SHFE 2205 SS contract stood at 20,650 yuan/mt, and the spot premiums in Wuxi were at -255-45 yuan/mt. (Spot price of deburred edge products = Spot price of burr edge products + 170 yuan/mt).


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The above representation and data is based on market information SMM believes to be reliable at the time of acquiring as well as the comprehensive assessment by SMM research team, and any and all information provided in this article is for reference only. This article does not constitute a direct recommendation for investment or any decisions in any form and clients shall act on their own discreet and any decisions made by clients are not within the responsibility of SMM.

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