Stainless steel prices held stable after the holiday [SMM Stainless Steel Spot Daily Review]

Published: May 6, 2024 17:58

Source: SMM

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On May 6, according to SMM research, stainless steel prices held relatively stable.

On May 6, according to SMM research, stainless steel prices held relatively stable. During the Labour Day holiday, stainless steel arrivals were in line with expectations. #304 stainless steel prices in Wuxi fell slightly, but had limited downward room in the short term due to active transactions and inquiries. As the higher and lower ends of stainless steel price range in Foshan narrowed, the prices further stabilized. In the morning, the price of #304 cold-rolled steel in Wuxi was 14,000-14,300 yuan/ton, and that of #304 hot-rolled steel in Wuxi at 13,500-13,600 yuan/ton. #316L cold-rolled steel was offered at 24,500-25,400 yuan/ton in Wuxi. #201J1 cold-rolled steel was offered at 8,800-8,950 yuan/ton in Wuxi. #430 cold-rolled steel was offered at 8,050-8,150 yuan/ton in Wuxi. At 10:30, SHFE SS 2409 contract was 14,405 yuan/ton. Stainless steel spot premium was -235-65 yuan/ton in Wuxi. (Spot deburred edge = bur edge + 170 yuan/ton).

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