Trading of #201 and #430 Stainless Steel was Slack, and the Prices will Drop Further

SHANGHAI, Jun 21 (SMM) - On June 21, spot prices of #304 stainless steel from private smelters continued to rise, and prices of other varieties were stable. According to the SMM survey, traders are still cautious about the market outlook, and their willingness to restock on dips is not strong. Traders of #400 stainless steel will lower their prices further to clinch a deal even though they've already suffered huge losses. In Wuxi and Foshan markets, the prices of #201 and #430 cold-rolled coil remained almost unchanged today. Quotes of #201J1 cold-rolled coil (Wuxi) were 9,500-9,800 yuan/mt. #430 cold-rolled coil (Wuxi) was quoted at 8,700-9,000 yuan/mt. #201J1 cold-rolled coil (Foshan) was quoted at 9,500-9,700 yuan/mt Quotes of #430 cold-rolled coil (Foshan) were 8,800-9,000 yuan/mt.