Stainless Steel Market Shows Mixed Performance, Uptrend May Shift to Sideways Fluctuation [SMM Stainless Steel Spot Daily Review]

March 18—

According to the SMM survey, stainless steel market prices on March 18 showed mixed performance, depending on market conditions and inventory levels. Products with tight supply continued to rise as the previous upward trend had not yet been fully realized, while products with abundant supply saw prices decline due to destocking pressure. The most-traded SS2505 futures contract fluctuated downward as the transfer to delivery warehouse progressed, pushing prices lower. At 10:30 a.m., SS2505 was quoted at 13,545 yuan/mt, down 95 yuan/mt. In Wuxi, 304/2B spot premiums and discounts ranged from -25 to 215 yuan/mt.

The average price of 201/2B coil in Wuxi was 7,820 yuan/mt, down 15 yuan/mt, while in Foshan it was 7,830 yuan/mt, down 5 yuan/mt. The average price of 304/2B coil (mill edge) in Wuxi was 13,470 yuan/mt, up 20 yuan/mt, while in Foshan it remained flat at 13,350 yuan/mt. The average prices of 316L/2B coil in Wuxi and Foshan were 24,125 yuan/mt and 24,175 yuan/mt, respectively, both unchanged. The average price of 430/2B coil in Wuxi was 7,440 yuan/mt, up 30 yuan/mt, while in Foshan it was 7,330 yuan/mt, down 10 yuan/mt. Overall, stainless steel prices across different series and specifications showed mixed performance.
The stainless steel market continues to face supply-side pressure. Previously, stainless steel capacity was at a high level, and additional capacity is expected in the future. On the demand side, although the traditional peak season has arrived, downstream buyers mainly make just-in-time procurement, and overall demand release has fallen short of expectations, with mediocre market transactions.

The upward momentum in the stainless steel spot market has weakened, and the market may shift to range-bound fluctuations in the future.

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

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