Stainless Steel Prices Fall amid Short Restocking Period

SHANGHAI, Mar 22 (SMM) - On March 21, the spot prices of stainless steel in the Wuxi and Foshan markets fell slightly. The inquiries and transactions were still weak amid short restocking period. Traders were less willing to pick up goods, hence the spot supply of some specifications was tight. Short-term spot prices will be stable with occasional falls. In Wuxi market, #304 cold-rolled coil was quoted at 15,900-16,100 yuan/mt; #304 hot-rolled coil at 15,450-15,750 yuan/mt; #316L cold-rolled coil at 30,400-31,100 yuan/mt; #201J1 cold-rolled coil at 9,300-9,500 yuan/mt; #430 cold-rolled coil at 7,900-8,100 yuan/mt. As of 10:30 a.m., the SHFE SS 2303 contract stood at 15,835 yuan/mt, and the spot stainless steel premiums in Wuxi were 235-435 yuan/mt. (Spot prices of deburred edge products = Spot prices of burr edge products + 170 yuan/mt)