Stainless Steel Futures Prices Fluctuated, 400-Series Stainless Steel Spot Prices Dropped [SMM Stainless Steel Spot Daily Review]

On June 25, according to an SMM survey, stainless steel futures prices opened lower and then rose, closing flat. The spot market had a good trading atmosphere. Recently, there has been significant pressure on spot sales at the end of June, leading to some slight declines. The price of #304 stainless steel held stable. Although 200-series stainless steel mills did not lower their guidance prices, the market actively adjusted prices downward. For 400-series stainless steel, after TISCO lowered its prices on June 24, JISCO and traders followed suit, leading to a short-term weak trend in prices. In the morning, #304 CRC in Wuxi was quoted at 13,750-14,150 yuan/mt, and #304 HRC in Wuxi was quoted at 13,300-13,400 yuan/mt. #316L CRC in Wuxi was quoted at 24,600-25,500 yuan/mt. #201J1 CRC in Wuxi was quoted at 8,700-8,900 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 13,835 yuan/mt, and stainless steel spot premium in Wuxi was 85-485 yuan/mt. (Spot cut edge = uncut edge + 170 yuan/mt).