Stainless Steel Continues to Run Weakly

On September 12, according to SMM research, the spot price of stainless steel continued to run weakly today. The stainless steel market continued to plummet after a brief recovery yesterday. The market sentiment was relatively pessimistic, and spot transactions were weak. Spot transactions in Xifu and Xifu were light during the day. The specific transaction has a larger profit margin than the quoted price. The peak season in mid-September has not been reflected. The demand transmission to the terminal is weak. Most traders are bearish on the market outlook. It is expected that the subsequent spot price of stainless steel will remain weak in the short term. In the morning of the same day, the price of 304 cold rolled steel in Wuxi was 15,450-15,750 yuan/ton. The price of 304 hot rolled steel in Wuxi area is 14850-14950 yuan/ton. The price of 316L cold rolled steel in Wuxi area is 26,700-28,300 yuan/ton. The price of 201J1 cold rolled steel in Wuxi area is 9150-9300 yuan/ton. The price of 430 cold rolled steel in Wuxi area is 8600-8650 yuan/ton. SHFE10: The contract price of 30-minute SS2310 is 15,585 yuan/ton, and the spot premium of Wuxi stainless steel is 85-385 yuan/ton. (Spot trimming = raw edge + 170 yuan/ton).

Written by SMM Nickel Research, if you have any questions about the nickel market, please don't hesitate to talk with me Fancyli@smm.cn