Electronic Futures Market Edges Up Narrowly as South Korea's Anti-Dumping Duty Looms [SMM Analysis]

Published: Jan 17, 2025 16:52

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[SMM Analysis: Electronic Futures Market Edges Higher Amid South Korea's Anti-Dumping Duties] This week, the most-traded SS2503 futures contract price remained stable overall. The opening price on Monday was 13,175 yuan/mt, and after a period of fluctuation, it rose to a two-month high of 13,340 yuan/mt on Friday, finally closing at 13,320 yuan/mt.

This week, the most-traded SS2503 futures contract prices remained stable overall. The opening price on Monday was 13,175 yuan/mt, and after a period of fluctuation, it rose to a two-month high of 13,340 yuan/mt on Friday, finally closing at 13,320 yuan/mt. Macro side, the South Korean government announced on January 16 the imposition of a 21.62% provisional anti-dumping duty on stainless steel plates imported from China to counter the impact of low-priced Chinese products on its domestic steel industry, particularly the shipbuilding sector. The measure targets stainless steel plates with a thickness of 0.00475 mt or more and a width of 0.6 mt or more, primarily used in the shipbuilding industry. Fundamentals side, although both electronic trading and spot market prices showed an upward trend this week, market transactions were sluggish, and sentiment remained low due to the approaching Chinese New Year. Social inventory decreased slowly, and some traders began restocking in advance. The current market supply-demand relationship remains characterized by strong supply and weak demand. Overall, stainless steel fundamentals showed a gradual price increase, with some recovery in profits, but market transactions remained subdued. The market is widely focused on the potential new tariff policies that may be introduced after Trump's inauguration on January 20 and their possible impact on the broader market.

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