Spot Prices Fluctuated amid Slow Progress in Resumption of Production

SHANGHAI, May 30(SMM) - Steel mills did not adjust the spot guide price today, but the 200-series and 300-series cold-rolled prices fell slightly, with offers hovering at a low level. According to SMM research, although the enterprises in Shanghai are expected to resume work and production in the near future, the release of terminal demand will take some time, and demand may remain muted in the short term. The 200-series prices in Wuxi market fell by 100 yuan/mt, while the prices of 400-series remained unchanged. The 200- and 400-series prices remained unchanged in Foshan market. On May 30, 201J1 cold-rolled coil (Wuxi) was quoted at 9,900-10,200 yuan/mt; 430 cold-rolled coil (Wuxi) was quoted at 9,300-9,400 yuan/mt. 201J1 cold-rolled coil (Foshan) was quoted at 10,000-10,300 yuan/mt; 430 cold-rolled coil (Foshan) was quoted at 9,200-9,500 yuan/mt.