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Stainless Steel Spot Price Weak

On September 11, according to SMM research, the spot price of stainless steel was weak today. Following last week’s market dive and spot price decline, today’s cold-rolled spot price is temporarily stable, while hot-rolled spot prices are slightly lower.

Today, Qingshan October futures opened, 304 cold-rolled four-foot Yong gold was quoted at 15,500 gross basis, and 304 cold-rolled four-foot Yongwang/Hongwang/Rip quoted 15,400 gross basis, down 100 yuan/ton from the last opening. At the same time, in East China, Two steel mills in South China have successively announced maintenance plans and are expected to reduce production in September, with a total impact of about 40,000 tons. Spot transactions during the day are relatively average, and terminal procurement has a strong wait-and-see mentality.

It is expected that subsequent demand will gradually pick up, and stainless steel spot prices will remain stable in the short term. In the morning of the same day, the price of 304 cold rolled steel in Wuxi was 15,500-15,800 yuan/ton. The price of 304 hot rolled steel in Wuxi area is 14850-14950 yuan/ton.

The price of 316L cold rolled steel in Wuxi area is 26,700-28,300 yuan/ton. The price of 201J1 cold rolled steel in Wuxi area is 9150-9300 yuan/ton. The price of 430 cold rolled steel in Wuxi area is 8600-8650 yuan/ton. SHFE10: The contract price of 30-minute SS2310 is 15,585 yuan/ton, and the spot premium of Wuxi stainless steel is 85-385 yuan/ton.
Source: SMM

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