After the Chinese New Year, the stainless steel market continued to experience strong supply and weak demand, with spot prices fluctuating and trending slightly downward [SMM Analysis].

Published: Feb 14, 2025 11:34

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[SMM Analysis: After the Chinese New Year, the Stainless Steel Market Continues to Show Strong Supply and Weak Demand, with Spot Prices Fluctuating Rangebound and Downward] With the end of the Lantern Festival, the Chinese New Year holiday has come to an end. This week, the stainless steel electronic trading shifted to the 2505 contract, showing a fluctuating downward trend in prices, while spot prices slightly declined.

With the conclusion of the Lantern Festival, the Chinese New Year holiday has come to an end. This week, stainless steel electronic trading shifted to the 2505 contract, showing a fluctuating downward trend in prices, while spot prices slightly declined. As of February 14, SMM Wuxi region quotes for 304 cold-rolled coil were 12,950-13,300 yuan/mt, with the average price down 33 yuan/mt WoW. Hot-rolled prices stood at 12,450-12,600 yuan/mt, with the average price up 15 yuan/mt WoW.

In terms of supply, stainless steel social inventory increased by 1.53% WoW this week. Specifically, Wuxi region inventory for the 200-series rose by 1.89%, the 300-series by 1.89%, and the 400-series decreased by 1.25%; Foshan region inventory for the 200-series increased by 2.04%, the 300-series by 2.33%, and the 400-series decreased by 2.03%.

On the demand side, despite the end of the holiday, market demand remained sluggish, making it difficult to reduce social inventory, with shipments staying at low levels. However, the 400-series maintained stable outflows from warehouses. Overall, post-holiday steel mill shipments did not decrease, and spot cargoes continued to arrive. The stainless steel market is expected to maintain a strong supply and weak demand trend next week, with spot prices remaining stable or slightly declining.

》Click to view SMM stainless steel spot historical prices

》Click to view SMM stainless steel industry chain database

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