Supply-Side Steel Mills Continue Shipping, While Downstream Demand Remains Weak [SMM Stainless Steel Spot Daily Review]

On January 6, stainless steel spot prices temporarily halted their downward trend, maintaining stable operation at low levels. On the supply side, steel mills continued to deliver, while downstream demand remained weak, creating an imbalance between supply and demand. Bearish market sentiment persisted, and selling pressure was high. In the morning, 304 cold-rolled stainless steel in the Wuxi region was quoted at 12,850-13,000 yuan/mt, 304 HRC in the Wuxi region at 12,300-12,500 yuan/mt, 316L cold-rolled stainless steel in the Wuxi region at 23,600-23,800 yuan/mt, 201J1 cold-rolled stainless steel in the Wuxi region at 7,400-7,700 yuan/mt, and 430 cold-rolled stainless steel in the Wuxi region at 7,150-7,450 yuan/mt. At 10:30 a.m., the SHFE SS2502 contract price was 12,760 yuan/mt, with Wuxi stainless steel spot premiums at 260-410 yuan/mt. (Spot trimmed edge = mill edge + 170 yuan/mt).

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