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Stainless Steel Futures Continued the Rebound Trend

October 16, according to SMM research, today’s stainless steel futures continued the rebound trend of last week and rose. Boosted by the news of production cuts, the pessimism in the stainless steel market eased. During the day, Qingshan 304 cold and hot rolled November futures opened at 304 four-foot Yongjin 14,900 cents. Base, 304 four-foot-five-foot Hongwang/Yongwang/Rip/Shangke 14,800 gross base, 304 five-foot Yongjin 15,000 gross base, below 0.6 14,900 gross base; Qingshan 304 hot-rolled November futures 14,500 yuan/ton, higher than The price dropped last time. The intraday spot transaction has improved compared with last week, and the quotation has increased slightly. 316L cold and hot rolling has continued its decline, and it is expected that there is still room for downside. Spot prices for the 200 and 400 series have remained stable, and are expected to stabilize this week amid expectations of production cuts in November. In the morning of that day, the price of 304 cold rolled steel in Wuxi area was 15,100-15,200 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 26,600-26,900 yuan/ton. The price of 201J1 cold rolling in Wuxi area is 8850-8950 yuan/ton. The price of 430 cold rolled steel in Wuxi area is 8350-8450 yuan/ton. SHFE10: The contract price of 30-minute SS2310 is 14,705 yuan/ton, and the spot premium of Wuxi stainless steel is 315-605 yuan/ton. (deburred edge products = bur edge products+ 170 yuan/ton).
Source: SMM Information & Technology

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