Fundamentals Lack Support, but Stainless Steel Spot Market Still Raises Prices [SMM Stainless Steel Spot Daily Review]

March 17—

According to the SMM survey, stainless steel market prices continued to rise on March 17, with major mills raising prices, driving the market to follow suit. The most-traded SS2505 futures contract fluctuated at high levels, showing an overall upward trend. At 10:30 a.m., the SS2505 was quoted at 13,640 yuan/mt, while spot premiums/discounts for 304/2B in Wuxi ranged from -130 to -90 yuan/mt.

Stainless steel spot price trends: Prices for some specifications increased, such as Foshan 304/2B coil-trimmed edge with an average price of 13,840 yuan/mt, up 15 yuan/mt from the previous level; Wuxi 304/No.1 coil averaged 12,880 yuan/mt, up 25 yuan/mt. Overall transactions were mediocre, with an urgent need for downstream market demand to expand.

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

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