Demand Shows No Improvement; Stainless Steel Market Sees Lackluster Sales [SMM Stainless Steel Spot Daily Review]

Published: Feb 25, 2025 13:03

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[SMM Stainless Steel Spot Daily Review: Demand Shows No Improvement, Stainless Steel Market Sees Sluggish Sales] On February 25, the stainless steel market experienced sluggish inquiries and sparse spot trading volume. Futures side, SHFE stainless steel futures SS2505, the most-traded contract, were quoted at 13,210 yuan/mt at 10:30. In Wuxi, stainless steel spot premiums ranged from -40 to 260 yuan/mt. In the spot market, prices for 201/2B coil, 304/2B coil, and 316L/2B coil remained stable overall, while the nationwide average price of 430/2B coil saw a slight decline. In the short term, the supply-demand imbalance persists, and there is significant resistance to price increases.

On February 25, the stainless steel market was relatively sluggish, with limited inquiries and low trading volume, reflecting a lack of market vitality.

As of 10:30, the SHFE stainless steel most-traded contract SS2505 was quoted at 13,210 yuan/mt. The spot premiums for Wuxi stainless steel ranged from -40 to 260 yuan/mt. Note: Spot trimmed-edge price = Mill-edge price + 170 yuan/mt.

In the spot market, stainless steel spot prices for different grades were as follows: 201/2B coil (Wuxi, Foshan) ranged from 7,700 to 7,800 yuan/mt, with an average price of 7,750 yuan/mt, unchanged from the previous day. 304/2B coil (Wuxi, Foshan, and other regions) ranged from 13,000 to 13,800 yuan/mt, with a nationwide average price of 13,170 yuan/mt, remaining stable overall. The nationwide average price of 316L/2B coil was 24,125 yuan/mt, while the average price of 430/2B coil in Wuxi was 7,400 yuan/mt. In Foshan, there were slight fluctuations, with the nationwide average price at 7,395 yuan/mt, showing a slight decline from the previous day.

Currently, stainless steel market inventory remains high, with relatively ample supply, while demand recovery is slow. Downstream industries such as construction, home appliances, and kitchenware show weak purchase willingness for stainless steel, making it difficult for the market to see significant trading volume. Under such prominent supply-demand imbalances, stainless steel prices lack upward momentum, and the market is likely to maintain a fluctuating downward trend in the short term. Market participants should closely monitor raw material price changes, downstream demand recovery, and futures market trends to adjust their business strategies in a timely manner.

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Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

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