Stainless Steel Electronic Trading Opened Higher in the Morning, Spot Prices Rose Simultaneously [SMM Stainless Steel Spot Daily Review]

On January 13, stainless steel electronic trading opened higher in the morning. Coupled with steel mills controlling output, spot prices also increased, with prices for 201 and 304 stainless steel rising by 50-100 yuan/mt. Although shipments of certain steel grades continued to decline slightly, market sentiment improved and turned optimistic. Cold-rolled stainless steel in Wuxi was quoted at 12,800-13,100 yuan/mt, 304 HRC 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 7,450-7,750 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 12,240 yuan/mt, with Wuxi stainless steel spot premiums at -270-30 yuan/mt (spot trimmed edge = mill edge + 170 yuan/mt).

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