Stainless Steel Prices Stabilize Amid Weak Demand and Declining Inventories

Published: Apr 24, 2025 18:59

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【Stainless Steel Inventory Pulls Back While Demand Remains Weak, Short-Term Prices Stabilize】April 24 - Today, SS futures showed a volatile trend, with price movements lacking clear direction. The spot market also continued its previous stable trend. As the Labour Day holiday approached, the anticipated pre-holiday stockpiling demand did not materialize. Downstream buyers remained cautious and watchful, with transactions mainly concentrated on low-priced warrant sources. The overall trading atmosphere was subdued, and market activity was low.
On the futures side, the most-traded contract 2506 stopped falling and began to rebound. At 10:30 AM, SS2506 was quoted at 12,745 yuan/mt, down 40 yuan/mt from the previous trading day. In Wuxi, the spot premiums/discounts for 304/2B were in the range of 425-625 yuan/mt. In the spot market, the average price of cold-rolled trimmed 304/2B coils in Wuxi was 13,100 yuan/mt, while in Foshan it was 13,150 yuan/mt. In Wuxi, the price of cold-rolled 316L/2B coils was 23,650 yuan/mt, and in Foshan, it was 23,800 yuan/mt. The price of hot-rolled 316L/NO.1 coils was reported at 22,900 yuan/mt in both regions.
Notably, social inventory of stainless steel significantly declined this week. After the release of relevant data in the afternoon, market sentiment was somewhat boosted, and coupled with the rebound in the futures market, stainless steel quotations were adjusted upward. However, downstream customers remained predominantly……

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