Stainless Steel Market Trading Mediocre, Prices Expected to Rise [SMM Stainless Steel Spot Daily Review]

March 3—

According to SMM, the stainless steel market exhibited a mediocre trading sentiment this week. In the futures market, the most-traded stainless steel futures contract SS2505 experienced frequent price fluctuations. As of 10:30 on March 3, the SS2505 contract was quoted at 13,285 yuan/mt, underscoring the intense tug-of-war between longs and shorts in the market. Meanwhile, the 304/2B spot premiums and discounts fluctuated significantly, with spot premiums in Wuxi ranging from -115 to 185 yuan/mt, reflecting the instability in the spot market's supply-demand relationship and the volatility in investor sentiment.

In the spot market, although offers were relatively active, actual transactions remained limited. Notably, a leading producer raised its offer price by 100 yuan, which drew some attention in the market. However, other stainless steel producers mostly opted to stay on the sidelines and have not followed suit in raising prices. Regionally, prices in Wuxi and Foshan remained stable, while small-lot transaction prices saw slight fluctuations. Overall, market shipments fell short of expectations, indicating that the release of current market demand still faces certain obstacles.

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