Stainless Steel Spot Prices Dropped Slightly and the Trading Remained Slack

Published: Jun 8, 2022 17:50

Source: SMM

Save

In Wuxi and Foshan markets, stainless steel spot prices dropped slightly today.

SHANGHAI, Jun 8 (SMM) - In Wuxi and Foshan markets, stainless steel spot prices dropped slightly today. The benchmark prices in the Foshan market stood at around 18,800 yuan/mt, and those in the Wuxi market were about 18,900 yuan/mt. Steel mills indicated that the transaction in the past two months was still poor. Although the consumption in the third quarter is expected to be better, the terminals still have not received orders. In the spot market, the market is uncertain about when the dropping of stainless steel prices will come to an end, and traders mainly hold a pessimistic outlook for the recovery of consumption. The downstream mainly held a wait-and-see sentiment, and the decrease in warrants slowed down. As for the costs, the overall costs are still dropping. NPI prices will fall further due to the supply surplus in China. Prices of #304 cold-rolled coils moved between 19,200-19,500 yuan/mt, and the prices of #304 hot-rolled coils stood at 18,800-19,200 yuan/mt. In the early trading, quotes of 316L/2B were 30,600-30,900 yuan/mt. As of 10:30 a.m., the prices of the SHFE SS 2207 contract stood at 18,790 yuan/mt, and the stainless steel spot premiums in Wuxi were 480-680 yuan/mt. (Spot price of deburred edge products = Spot price of burr edge products + 170 yuan/mt).

Spot Market

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or for more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

Jun 30, 2026 14:20

Hunan Launches Second Round of Environmental Inspections, Affecting Lead-Zinc Mines

Hunan Province has launched the second round of its provincial ecological and environmental protection inspection "look-back" campaign. The first batch of seven inspection teams has been fully deployed since June 13, 2026, covering the cities of Changsha, Zhuzhou, Yueyang, Shaoyang, Hengyang, Huaihua, and Zhangjiajie. According to market sources, some lead-zinc mines have suspended production as a result of the inspections. SMM will continue to monitor and assess the potential impact on zinc concentrate supply.

Jun 30, 2026 14:20

Jun 23, 2026 16:31

Australia Terminates Anti-Dumping Probe on South Korean, Vietnamese Galvanised Steel Sheets

On June 19, 2026, the Australian Anti-Dumping Commission issued Notice No. 2026/088, terminating the anti-dumping investigation on galvanised sheet [Zinc Coated (Galvanised) Steel] imported from South Korea and Vietnam, following the withdrawal application submitted by the applicant BlueScope Steel Limited. Previously, on May 22, 2026, the Commission issued Notice No. 2026/071, initiating an anti-dumping investigation on galvanised sheet imported from South Korea and Vietnam, in response to an application filed by Australian domestic enterprise BlueScope Steel Limited.

Jun 23, 2026 16:31

Jun 5, 2026 11:08

Supply Gap Persists in Vietnamese Market, Spot Lead Traded at High Premiums

[Ex-China Lead Market Dynamics] It was learned that the recent environmental protection inspections on secondary lead in the Vietnamese market had temporarily come to an end, and some lead smelters had gradually resumed production. However, in the face of the current primary lead supply gap, spot lead in the local market continued to maintain high premiums. According to the latest information, the CIF premium for Vietnamese lead ingots with Pb≥99.99% in June had reached $180/mt as a common transaction price, compared to around $165/mt in May.

Jun 5, 2026 11:08