Stainless Steel Futures Continue to Weaken, Spot Market Remains Quiet [SMM Stainless Steel Spot Daily Review]

On October 31, stainless steel futures continued to decline, and the performance of stainless steel spot was also relatively weak. The sales of coils were moderate, while the sales of flat sheets were poor. At the end of the month, merchants mainly offered discounts to stimulate transactions. The mainstream transaction price for resources from other production areas was 13,300 yuan/mt, but the downstream purchasing willingness was low, and market activity was not high. In the morning, 304 cold-rolled stainless steel in Wuxi was quoted at 13,600-14,100 yuan/mt, 304 HRC in Wuxi was quoted at 13,150-13,250 yuan/mt. 316L cold-rolled stainless steel in Wuxi was quoted at 24,500-25,100 yuan/mt. 201J1 cold-rolled stainless steel in Wuxi was quoted at 7,800-8,100 yuan/mt. 430 cold-rolled stainless steel in Wuxi was quoted at 7,500-7,600 yuan/mt. At 10:30, the SHFE SS2412 contract price was 13,555 yuan/mt, and the spot premiums for Wuxi stainless steel were 110-510 yuan/mt. (Spot cut edge = uncut edge + 170 yuan/mt).