Stainless Steel Prices Fluctuate Downward, Weak Demand Hinders Growth [SMM Stainless Steel Spot Daily Review]

Published: Feb 26, 2025 18:53

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[SMM Stainless Steel Spot Daily Review: Stainless Steel Prices Fluctuate Downward, Weak Demand Hinders Growth] On February 26, the most-traded stainless steel futures contract SS2505 closed down 0.3%, with prices fluctuating throughout the day. In the spot market, prices of some 200-series and 300-series products declined, and transactions were mediocre. Currently, weak demand, despite cost support, coupled with ample supply, makes it difficult for stainless steel market prices to rise.

On February 26, stainless steel market prices slightly declined, with mediocre performance in transactions.

Based on the 10:30 price of the SHFE stainless steel most-traded futures contract, the SS2505 contract was quoted at 13,130 yuan/mt. In Wuxi, stainless steel spot premiums ranged from -10 to 290 yuan/mt. Note: spot trimmed-edge price = mill-edge price + 170 yuan/mt.

In the spot market, for 200-series stainless steel, the average price of 201/2B coils in Wuxi was 7,725 yuan/mt, down by 25 yuan/mt from the previous day; the nationwide average price was 7,830 yuan/mt, down by 15 yuan/mt. For 300-series stainless steel, the average mill-edge price of 304/2B coils in Wuxi was 13,100 yuan/mt, down by 50 yuan/mt, while the trimmed-edge average price was 13,600 yuan/mt, down by 50 yuan/mt; the nationwide average price of 304/2B coils was 13,140 yuan/mt, down by 30 yuan/mt. Overall, some stainless steel spot prices declined, and market transactions showed mediocre performance. On one hand, the demand side remained weak, with downstream buyers mostly making just-in-time procurement; on the other hand, although the cost side provided some support, ample market supply limited price increases.

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