The 400-series spot market experienced a slight inventory buildup, but overall social inventory remained primarily in destocking mode [SMM Stainless Steel Spot Daily Review].

Published: Dec 26, 2024 16:48

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[SMM Stainless Steel Spot Daily Review: Slight Inventory Buildup in the 400-Series Spot Market, but Overall Social Inventory Still Focused on Destocking] On December 26, stainless steel futures prices experienced slight fluctuations and declined, while spot prices continued to remain stable at low levels...

On December 26, stainless steel futures prices experienced slight fluctuations and declined, while spot prices remained stable at low levels. Influenced by the optimistic sentiment of steel mills and raw material prices, a slight increase in production by steel mills led to a minor inventory buildup in the 400-series spot market. However, overall social inventory continued to decline, with a significant destocking observed in the 300-series. In the morning, 304 cold-rolled stainless steel in Wuxi was quoted at 12,950-13,200 yuan/mt, while 304 hot-rolled stainless steel in Wuxi was quoted at 12,400-12,500 yuan/mt. 316L cold-rolled stainless steel in Wuxi was quoted at 23,600-23,800 yuan/mt. 201J1 cold-rolled stainless steel in Wuxi was quoted at 7,400-7,800 yuan/mt. 430 cold-rolled stainless steel in Wuxi was quoted at 7,150-7,450 yuan/mt. At 10:30 a.m., the SHFE SS2502 contract price was 13,025 yuan/mt, with Wuxi stainless steel spot premiums at 95-345 yuan/mt. (Spot cut edge = uncut edge + 170 yuan/mt).

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