Stainless Steel Trading Remains Mediocre with Strong Sentiment to Stand Firm on Quotes [SMM Stainless Steel Spot Daily Review]

March 4 - According to SMM,

the stainless steel market continued to exhibit a mediocre trading atmosphere this week. On the futures side, the most-traded stainless steel futures contract SS2505 experienced frequent fluctuations, showcasing intense competition between bulls and bears. As of 10:30 on March 4, the SS2505 most-traded contract was quoted at 13,285 yuan/mt. Meanwhile, the 304/2B spot premiums and discounts fluctuated significantly, with stainless steel spot premiums in Wuxi ranging from -55 to 245 yuan/mt, reflecting instability in the spot market's supply and demand.

In the spot market, despite active quotations, actual transactions were scarce. Some steel mills continuously raised their offer prices, stirring waves in the market, while most other producers remained on the sidelines, adopting a wait-and-see approach. From a regional price perspective, major markets such as Wuxi and Foshan maintained stable prices, with slight fluctuations in small-lot transaction prices. Overall, the shipment situation was less than satisfactory, indicating certain obstacles in the release of current market demand.

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