[SMM spot Information] Daily Review of stainless Steel in Wuxi area on April 29, 2020

SMM4, 29th:

304/NO.1, April 29 / PRNewswire-Asianet /-Today, the prices of stainless steel in all departments in Wuxi are stable, with 3042B rough edges quoted at 1280013300 yuan / ton, 3042B cutting edges at 13200-13400 yuan per ton, and SMM at 12600-12900 yuan per ton.

As Labour Day holiday approaches, trading in the spot market is flat and prices are stable. Most traders have a wait-and-see attitude towards the future. After the supply of steel mills arrives in the market in May, they have to judge the price trend by looking at the overall demand situation. The position of the SS2006 contract continued to decline sharply this week, as of today's lunch break, the SS2006 contract fell below 12800 yuan / ton, the top 5 / 10 moving average resistance is strong, showing a weakening trend. And the SS2007 contract has become the main position contract.

For 10:30 SHFE SS2006 contract price 12945 yuan / ton, Wuxi stainless steel spot water 25-525 yuan / ton. (spot trimming = rough edges + 170 yuan / ton)

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