Stainless Steel Prices Will Be Weak

Stainless steel: September 19, according to SMM research, the overall stainless steel market today is running in parallel, the futures market is roughly the same as yesterday, the trading atmosphere is light, and the intraday transactions are light. The spot price of traders is stable in the morning, with small fluctuations, and the tail price is stable. After the market plunge, the spot price has a downward trend. Some terminals have pre-holiday reserve demand and continue to wait and see due to falling prices. Recently, the transaction price of ferronickel has declined slightly, and the transmission of stainless steel demand is relatively poor. SMM predicts that stainless steel prices will be weak in the short term. In the morning of that day, the price of 304 cold rolled steel in Wuxi area was 15,400-15,700 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 9050-9200 yuan/ton. The price of 430 cold rolled steel in Wuxi area is 8450-8500 yuan/ton. SHFE10: The contract price of 30-minute SS2310 is 15,435 yuan/ton, and the spot premium of Wuxi stainless steel is 135-435 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