Steel Mills Continue Deliveries but Weak Demand Causes Slight Increase in Inventory Backlog [SMM Stainless Steel Spot Daily Review]

Published: Feb 13, 2025 15:47

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[SMM Daily Review on Stainless Steel Spot: Steel Mills Continue Deliveries but Weak Demand Causes Slight Inventory Accumulation] On February 13, the stainless steel electronic trading updated to the 05 contract and showed a slight upward trend, while spot prices remained stable.

On February 13, stainless steel electronic trading updated to the May contract, showing a slight upward trend, while spot prices remained stable. After the Chinese New Year, social inventory stabilized this week, with a slight inventory buildup WoW. The main reason was continuous post-holiday shipments from steel mills, coupled with weak market demand, making it difficult to reduce inventory, thus leading to an accumulation. 304 cold-rolled stainless steel in Wuxi was quoted at 12,950-13,350 yuan/mt, 304 HRC in Wuxi at 12,450-12,600 yuan/mt, 316L cold-rolled stainless steel in Wuxi at 23,800-24,200 yuan/mt, 201J1 cold-rolled stainless steel in Wuxi at 7,700-7,800 yuan/mt, and 430 cold-rolled stainless steel in Wuxi at 7,300-7,450 yuan/mt. At 10:30 a.m., the SHFE SS2503 contract price was 13,100 yuan/mt, with Wuxi stainless steel spot premiums at 20-420 yuan/mt (spot trimmed edge = mill edge + 170 yuan/mt).

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