The market was slightly sluggish after the holiday, and stainless steel prices remained stable overall [SMM Stainless Steel Spot Daily Review]

Published: Sep 18, 2024 17:16

Source: SMM

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On September 18, stainless steel futures fluctuated downward.

On September 18, stainless steel futures fluctuated downward. The Wuxi market was relatively quiet in the morning due to the typhoon. The opening prices from steel mills and market quotations remained stable throughout the day. Post-holiday downstream purchasing demand was relatively average, and low-priced resources in the market continued to suppress overall price increases. It is expected that in the short term, 304 HRC and CRC spot prices will continue to fluctuate downward at low levels. In the morning, 304 CRC in Wuxi was quoted at 13,450-13,800 yuan/mt, and 304 HRC in Wuxi was quoted at 13,000-13,100 yuan/mt. 316L CRC in Wuxi was quoted at 24,600-25,000 yuan/mt. 201J1 CRC in Wuxi was quoted at 8,200-8,400 yuan/mt. 430 CRC in Wuxi was quoted at 7,550-7,750 yuan/mt. At 10:30 AM, the SHFE SS2411 contract price was 13,325 yuan/mt, and Wuxi stainless steel spot premiums were 295-645 yuan/mt. (Spot cut edge = uncut edge + 170 yuan/mt).

Market review

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