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

Published: Feb 26, 2025 18:53

Save

[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.

》Click to view SMM historical metal spot prices

》Click to view SMM metal industry database

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.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

5 hours ago

[SMM Steel] Global crude steel production decreases in Feb y-o-y

[SMM Steel] According to World Steel Association (worldsteel) data released on March 25, 2026, global crude steel production in February totaled 141.8 million tons, a 2.2% decrease year-on-year. For the first two months of 2026, total global output reached approximately 298 million tons, down 1.5% compared to the same period last year.

5 hours ago

9 hours ago

MMi Daily Iron Ore Report (March 25)

Dalian iron ore futures trended weaker throughout the day. The most-traded I2605 contract concluded the session at 806.5 RMB per tonne, a decrease of 1.83% from the previous trading day. In the physical market,

9 hours ago

HRC Fundamentals: Maintenance Impact Down, Inventory Destocking Continues, Prices Expected to Fluctuate

Back to HRC fundamentals, impact from maintenance for hot-rolled products was 80,600 mt this week, down 234,300 mt WoW; impact from maintenance for hot-rolled products next week is expected at 9.34 mt, an increase of 12,800 mt from this week. Inventory-wise, destocking continued in Ningbo, Lecong, and Tangshan, while inventories in Shanghai and Zhangjiagang edged up slightly. Overall inventory was still expected to remain in a destocking trend. Attention should be paid to tomorrow's SMM weekly HRC balance. In the short term, HRC prices were still expected to fluctuate with costs, with limited momentum for further gains.

9 hours ago