Stainless Steel Futures Plunged Again

Stainless steel: On October 10, according to SMM research, stainless steel futures plunged again today, and spot prices operated weakly. Today, Tsingshan has released price limits, and the prices of 200 and 400 series have remained stable during the day. The price of 304 cold rolled products has been declining in the afternoon after being lowered in the morning. Currently, there are more spot resources and traders have more bargaining space. The market inquiry atmosphere and transactions are higher than before. There has been a slight improvement in the past few days. The price of hot-rolled products has not fallen as much as that of cold-rolled products, and the price difference between hot and cold products has further narrowed. The price of 316 ferromolybdenum continues to weaken, coupled with sluggish downstream demand, 316 hot-rolled prices have dropped again, and the price of 316 is expected to continue to decline. In the morning of the same day, the price of 304 cold rolled steel in Wuxi was 15,000-15,300 yuan/ton. The price of 304 hot rolled steel in Wuxi area is 14450-14550 yuan/ton. The price of 316L cold rolled steel in Wuxi area is 26,800-27,500 yuan/ton. The price of 201J1 cold rolled steel in Wuxi area is 8,900-9,000 yuan/ton. The price of 430 cold rolled steel in Wuxi area is 8400-8500 yuan/ton. SHFE10: The contract price of 30-minute SS2310 is 14,605 yuan/ton, and the spot premium of Wuxi stainless steel is 500-800 yuan/ton. (Deburred edge products = Bur edge products + 170 yuan/ton).

Written by SMM Nickel Research, if you have any questions about the nickel market, please don't hesitate to talk with me Fancyli@smm.cn