On June 5, according to an SMM survey, stainless steel futures prices were weak. As stainless steel mills still had the intention to hold their offers firm before the Dragon Boat Festival, spot prices maintained flat. However, the sharp decline in futures prices and poor downstream purchasing appetites caused some traders to slightly lower the prices of #304 spot resources, while the prices of 200- and 400-series stainless steel held relatively stable. In the morning, #304 CRC in Wuxi was quoted at 14,100-14,400 yuan/mt, and #304 HRC in Wuxi was quoted at 13,500-13,600 yuan/mt. #316L CRC in Wuxi was quoted at 24,500-25,400 yuan/mt. #201J1 CRC in Wuxi was quoted at 8,900-9,100 yuan/mt. #430 CRC in Wuxi was quoted at 8,050-8,150 yuan/mt. At 10:30 AM, the SHFE SS2409 contract price was 14,310 yuan/mt, and the premium of stainless steel in Wuxi was -140-260 yuan/mt. (Spot cut edge = uncut edge + 170 yuan/mt).



