Stainless Steel Slightly Fluctuated Upward, Weak Demand and Flat Transactions [SMM Stainless Steel Spot Daily Review]

April 1st, the stainless steel spot prices rose today, with active market inquiries but flat transactions. Downstream players showed strong wait-and-see sentiment, optimizing raw material inventory digestion with low restocking enthusiasm. Futures side, the most-traded SS2505 contract fluctuated upward, quoted at 13,505 yuan/mt at 10:30 AM, up 60 yuan/mt. The spot premiums/discounts for 304/2B in Wuxi ranged from 265-565 yuan/mt.

Today, spot prices increased. Cost support drove prices upward, with spot merchants raising offers and open to negotiation for large orders. By series, the spot price of cold-rolled 201/2B coil in Wuxi was 8,275 yuan/mt, and 8,300 yuan/mt in Foshan. The average price of cold-rolled trimmed 304/2B coil in Wuxi was 14,050 yuan/mt, and 13,975 yuan/mt in Foshan. The price of cold-rolled 316L/2B coil in Wuxi was 24,350 yuan/mt, and 24,550 yuan/mt in Foshan. The price of hot-rolled 316L/NO.1 coil in Wuxi was 23,600 yuan/mt, and 23,650 yuan/mt in Foshan. The price of cold-rolled 430/2B coil in Wuxi was 7,500 yuan/mt, and 7,475 yuan/mt in Foshan.

Looking ahead, with downstream demand picking up and cost support, stainless steel prices may continue to rise.

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

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