Stainless Steel Market Prices Remained Stable with Sluggish Trading on March 25, Awaiting Demand to Break the Volatility in the Future [SMM Stainless Steel Spot Daily Review]

March 25, the SMM survey showed that stainless steel market prices remained stable overall on March 25. Quotations for all series products were steady, with some room for negotiation on actual orders, and the market trading atmosphere was quiet. The most-traded SS2505 futures contract fluctuated rangebound, and at 10:30 AM, the SS2505 was quoted at 13,335 yuan/mt, down 45 yuan/mt from the previous level, continuing the downward trend. The price fluctuated rangebound within the range of 13,340-13,380 yuan throughout the day. In Wuxi, the spot premiums/discounts for 304/2B were in the range of 185-385 yuan/mt.

In today's stainless steel spot market, the price of cold-rolled 201/2B coil in Wuxi was 7,770 yuan/mt, while the average price in Foshan was 7,780 yuan/mt. The average price of cold-rolled trimmed 304/2B coil in Wuxi was 13,920 yuan/mt, and the average price in Foshan was 13,820 yuan/mt. In addition, prices for other 300-series and 400-series stainless steel products remained stable.

From a market trend perspective, it is expected that stainless steel market prices will continue to fluctuate rangebound in the short term, and the subsequent trend will depend on further increases in downstream demand.

For any inquiries regarding stainless steel, please contact Yang Chaoxing at 021-20707860 or 13585549799 (WeChat ID same as phone number).

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