Stainless Steel Prices Rise, But Fail to Alleviate the Downstream Purchase Slump [SMM Stainless Steel Spot Daily Review]

March 11—

According to an in-depth survey by SMM, today's stainless steel market saw overall transaction prices rise compared to yesterday. In the futures market, the most-traded stainless steel futures contract SS2505 fluctuated upward. As of 10:30 on March 11, the most-traded SS2505 futures contract was quoted at 13,465 yuan/mt, up significantly from the previous level but down 10 yuan. The spot premiums and discounts for 304/2B stainless steel in the Wuxi region ranged from -125 to 155 yuan/mt.

Today, the stainless steel spot market exhibited firm pricing, with overall transaction prices moving higher. Steel mills and traders maintained a firm stance on quotations, though most products had a bargaining range of 20-30 yuan. Regionally, the Foshan market saw a slight increase in 304 stainless steel prices, while in the Wuxi market, prices for 201 and 304 stainless steel also experienced modest growth. Despite the upward price trend, downstream purchasing enthusiasm remained low, and purchasing actions were relatively slow.

For any inquiries regarding stainless steel, please contact Yang Chaoxing at 021-20707860 or 13585549799 (WeChat available).

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