October 26, according to SMM research, futures fell back today, spot prices were relatively stable, and intraday transactions were relatively average. Currently, at the end of the month, some traders are shipping at low prices to withdraw funds. The overall distribution of goods this week is normal, Wuxi area 2 , 4 series inventory is roughly the same as last week, 300 series stainless steel cold rolling is slightly destocked, hot rolling is slightly accumulated, the overall spot resources are still relatively large, overall shipments in Foshan are difficult, total social inventory is slightly accumulated, steel mills reduced production in October social inventories are slowly being digested. Although the cost line has moved downwards, the bottom support is still there. Stainless steel prices are expected to run stably. In the morning of the same day, the price of 304 cold rolled steel in Wuxi was 14,900-15,100 yuan/ton. The price of 304 hot rolled steel in Wuxi area is 14,300-14,400 yuan/ton. The price of 316L cold rolled steel in Wuxi area is 26,500-26,800 yuan/ton. The price of 201J1 cold rolled steel in Wuxi area is 8750-8800 yuan/ton. The price of 430 cold rolled steel in Wuxi area is 8350-8450 yuan/ton. SHFE10: The contract price of 30-minute SS2312 is 14,545 yuan/ton, and the spot premium of Wuxi stainless steel is 545-725 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
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