#304 stainless steel prices continued to fall [SMM stainless steel daily review]

According to SMM research, On April 24, stainless steel prices underperformed. The downstream was in a wait-and-see stance despite a certain demand. Stainless steel quotations maintained a slight downward of 50-100 yuan/mt. Specifically, #316 stainless steel prices rose affected by molybdenum raw materials. In the afternoon, the decline of stainless steel prices narrowed and the overall prices held stable. On the morning of April 24, the prices of #304 cold-rolled coils in Wuxi were offered at 14,050-14,350 yuan/mt, while the prices of #304 hot-rolled coils in Wuxi were offered at 13,500-13,600 yuan/mt. #316L cold-rolled coil prices were offered at 24,500-25,400 yuan/mt in Wuxi. #201J1 cold-rolled coil prices were offered at 8,800-8,950 yuan/mt in Wuxi. #403 cold-rolled coil prices were offered at 8,050-8,150 yuan/mt in Wuxi. At 10:30, SHFE SS 2409 contract prices were 14,195 yuan/mt, and Wuxi stainless steel spot premium was 25-325 yuan/mt. (Spot deburred edge=bur edge+170 yuan/mt).