SS Futures Oscillate and Decline, Stainless Steel Spot Market Stabilizes as Market Gradually Recovers

Futures market for stainless steel fluctuated and then declined. Overall, non-ferrous metal futures showed a downward trend, with SS also moving lower, closing at 14,185 yuan/ton. In the spot market, despite the decline in SS futures, stainless steel spot prices remained stable supported by cost factors and the seasonal demand boost during the “Golden March and Silver April” period. A major stainless steel producer released a new round of guiding prices today, maintaining overall stability. Market expectations suggest that stainless steel production in March may be higher, and steel mills are likely to focus on active shipments, which could limit price increases due to increased supply. The main contract for SS futures fluctuated and weakened. At 10:30 AM, SS2604 was at 14,165 yuan/ton, up 5 yuan/ton from the previous trading day. In Wuxi, the spot premium/discount for 304/2B is between 355-555 yuan/ton. In the spot market, Wuxi cold-rolled 201/2B coils remained stable; cold-rolled rough edge 304/2B coils prices in Wuxi and Foshan remained stable; Wuxi cold-rolled 316L/2B coils increased by 500 yuan/ton; hot-rolled 316L/No.1 coils in Wuxi increased by 400 yuan/ton; cold-rolled 430/2B coils in Wuxi and Foshan remained stable. (Shanghai Nonferrous Metals Network)