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Stainless Steel Prices Remain Weak

iconSep 26, 2023 10:37
As the holiday approaches, the overall operating rate has decreased. Terminal procurement is more likely to wait for the price trend after the holiday, and it is expected that stainless steel prices will remain weak in the short term.

On September 25th, according to SMM research, today's stainless steel contract price continued to be weak and fell below 15100 points, affecting the sentiment of the spot market. Most agent opening prices this week have decreased by about 100 yuan/ton compared to last week. Currently, there is a large accumulation of spot resources, and in the last week before the National Day at the end of the month, there is a lot of room for negotiation. In some regions, Yongjin and Hongwang are even flat. It is understood that since last week's market crash, transaction volume has weakened month on month. As the holiday approaches, the overall operating rate has decreased. Terminal procurement is more likely to wait for the price trend after the holiday, and it is expected that stainless steel prices will remain weak in the short term. In the morning of that day, the price for 304 cold rolling in Wuxi area was reported at 15200-15600 yuan/ton. The 304 hot rolled Wuxi area reports a price of 14700-14800 yuan/ton. 316L cold rolled Wuxi region reported 26700-28300 yuan/ton. 201J1 cold rolled Wuxi area reported 9100-9200 yuan/ton. The price for 430 cold rolling in Wuxi area is 8400-8500 yuan/ton. SHFE10:30 SS2310 contract price is 15090 yuan/ton, and Wuxi stainless steel spot premium is 280-680 yuan/ton. (Spot trimming=rough 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

Stainless steel

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