Stainless Steel Market Rebounded

On September 14, according to SMM research, the Indonesian quota news was further clarified today. The stainless steel market rebounded and the market sentiment eased slightly. During the day, both cold and hot rolled stainless steel 304 fell by about 50-100 yuan/ton. In the afternoon, the news Boost, hot rolling has rebounded. Stainless steel prices have continued to weaken recently, and downstream stocking and purchasing are more cautious. Stainless steel social stocks have accumulated to a certain extent this week. Due to strong cost support and low profit margins of steel mills, it is expected that the stainless steel spot price will have a limited decline in the short term and will operate stably. In the morning of that day, the price of 304 cold rolled steel in Wuxi area was 15,300-15,500 yuan/ton. The price of 304 hot rolled steel in Wuxi area is 14,700-14,800 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 9100-9250 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 15,305 yuan/ton, and the spot premium of Wuxi stainless steel is 165-365 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