Fundamentals Lack Support, but Stainless Steel Spot Market Still Raises Prices [SMM Stainless Steel Spot Daily Review]

[SMM Stainless Steel Spot Daily Review: No Fundamental Support, But Stainless Steel Spot Market Still Raises Prices] March 17—Stainless steel market prices continued to rise, with major producers adjusting prices upward, driving follow-up increases. The most-traded 2505 stainless steel futures contract fluctuated upward at high levels. Prices of some spot specifications closely followed the upward trend.

March 17— According to the SMM survey, stainless steel market prices continued to rise on March 17, with major mills raising prices, driving the market to follow suit. The most-traded SS2505 futures contract fluctuated at high levels, showing an overall upward trend. At 10:30 a.

m., the SS2505 was quoted at 13,640 yuan/mt, while spot premiums/discounts for 304/2B in Wuxi ranged from -130 to -90 yuan/mt. Stainless steel spot price trends: Prices for some specifications increased, such as Foshan 304/2B coil-trimmed edge with an average price of 13,840 yuan/mt, up 15 yuan/mt from the previous level; Wuxi 304/No.

1 coil averaged 12,880 yuan/mt, up 25 yuan/mt. Overall transactions were mediocre, with an urgent need for downstream market demand to expand. For any inquiries regarding stainless steel, please contact Yang Chaoxing at 021-20707860 or 13585549799 (WeChat available).

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