Stainless steel prices showed weak trading, with the price center pulling back. [SMM Stainless Steel Spot Daily Review]

Published: Apr 22, 2025 17:59

Save

SMM Stainless Steel Spot Market Daily Review: Weak Stainless Steel Transaction Prices, Price Center Pulls Back. On April 22, SS futures prices showed a weakening and pullback trend. Recently, stainless steel prices have remained stable but lacked upward momentum. Due to persistently sluggish procurement demand from downstream end-users, market participants' confidence was significantly insufficient. Some traders chose to offer discounts under transaction pressure, leading to an overall downward shift in the transaction price center. In the futures market, the most-traded contract 2506 fluctuated. At 10:30 AM, SS2506 was quoted at 12,710 yuan/mt, down 50 yuan/mt from the previous trading day. In the Wuxi region, the spot premiums/discounts for 304/2B were in the range of 510-660 yuan/mt. In the spot market, the average price of cold-rolled trimmed 304/2B coils was 13,125 yuan/mt in Wuxi and 13,155 yuan/mt in Foshan. Currently, the potential impact of US tariff policies has not been fully realized, and market expectations for future trends remain unclear. As a result, downstream companies generally adopted a cautious wait-and-see attitude, leading to persistently weak market transactions. The earlier optimistic expectations for a price rebound gradually faded, and prices gradually pulled back. Today, Tsingshan Group announced the May high-carbon ferrochrome steel procurement price, which exceeded previous market expectations. This situation reduced the likelihood of significant production cuts by stainless steel mills. Nickel prices have fallen to relatively low levels, while ferrochrome procurement prices have risen. Overall, the cost support for stainless steel remains. Based on the above factors, the downward space for stainless steel prices is expected to be limited.

On April 22, SS futures prices showed a weak pullback. Recently, stainless steel prices have remained stable but lack upward momentum. Due to persistently sluggish procurement demand from downstream end-users, market participants' confidence is significantly insufficient. Some traders, under transaction pressure, chose to offer discounts, leading to an overall downward shift in the transaction price center.

In the futures market, the most-traded contract 2506 fluctuated. At 10:30 AM, SS2506 was quoted at 12,710 yuan/mt, down 50 yuan/mt from the previous trading day. In the Wuxi region, the spot premiums/discounts for 304/2B were in the range of 510-660 yuan/mt. In the spot market, the cold-rolled 201/2B coils in Wuxi and Foshan were both quoted at 8,250 yuan/mt; the cold-rolled trimmed 304/2B coils averaged 13,125 yuan/mt in Wuxi and 13,155 yuan/mt in Foshan; the cold-rolled 316L/2B coils were 23,650 yuan/mt in Wuxi and 23,800 yuan/mt in Foshan; the hot-rolled 316L/NO.1 coils were both quoted at 22,900 yuan/mt in both regions; the cold-rolled 430/2B coils were both 7,500 yuan/mt in Wuxi and Foshan.

Currently, the potential impact of US tariff policies has not been fully realized, and market expectations for future trends remain unclear. Affected by this, downstream enterprises generally maintain a cautious wait-and-see attitude, leading to continued weak market transactions. The previous optimistic expectations for a price rebound have gradually faded, and prices have also gradually pulled back. Today, Tsingshan Group announced the May high-carbon ferrochrome steel tender price, which exceeded previous market expectations. This situation has somewhat reduced the likelihood of significant production cuts by stainless steel mills. From the raw material side, nickel prices have fallen to relatively low levels, while chromium procurement prices have risen. Overall, the cost support for stainless steel still exists. Based on the above factors, it is expected that the downward space for stainless steel prices is limited.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

17 hours ago

Before the holiday, the black chain is unlikely to see a trend-driven market [SMM Steel Industry Chain Weekly Report].

This week, ferrous metals were in the doldrums, with coking coal and coke staging a mid-week rise. At the beginning of the week, financial markets experienced sharp fluctuations, dragging down sentiment in the ferrous chain and leading to a pullback in futures. Mid-week, Indonesia's cut to coke production quotas drove coking coal and coke futures to lead the gains, though the impact was more pronounced on thermal coal, while coking coal's rise was largely sentiment-driven and short-lived. In the latter part of the week, finished products continued their seasonal inventory buildup, and support from the raw material side weakened, causing the entire ferrous chain to pull back. In the spot market, with the Chinese New Year holiday approaching, purchasing activity slowed down further, with end-users only making limited, as-needed purchases at low prices.

17 hours ago

MMi Daily Iron Ore Report (February 6)

Today, the DCE iron ore futures continued to hit bottom today, with the most-traded contract I2605 closing at 760.5 yuan/mt, down 1.23% from the previous trading day. Spot prices fell by 5–10 yuan/mt compared to the previous trading day.

17 hours ago

[SMM Chromium Daily Review] Inquiries and Transactions Weakened, Chromium Market Showed Mediocre Performance Before the Holiday

[SMM Chrome Daily Review: Trading and Inquiries Weakened, Chrome Market Showed Mediocre Performance Before the Holiday] February 6, 2026: Today, the ex-factory price of high-carbon ferrochrome in Inner Mongolia was 8,500-8,600 yuan/mt (50% metal content), flat MoM from the previous trading day...

17 hours ago