Stainless Steel Night Session Rose Slightly, Spot Prices Unaffected [SMM Stainless Steel Spot Daily Review]

On January 6, stainless steel saw a slight rise in the night session yesterday, while spot prices remained unaffected and continued to operate at low and stable levels. Since entering January, market sentiment has consistently been pessimistic. Steel mill production has not decreased, downstream demand remains weak, and all types of stainless steel face significant pressure in sales. In the morning, 304 cold-rolled stainless steel in Wuxi was quoted at 12,850-13,000 yuan/mt, 304 hot-rolled stainless steel in Wuxi was quoted at 12,300-12,500 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 7,400-7,700 yuan/mt, and 430 cold-rolled stainless steel in Wuxi was quoted at 7,150-7,450 yuan/mt. At 10:30 a.m., the SHFE SS2503 contract price was 12,865 yuan/mt, and Wuxi stainless steel spot premiums were 155-305 yuan/mt. (Spot trimmed edge = mill edge + 170 yuan/mt).

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