| Stainless Steel |
Market Trends Show Upward Adjustments
Stainless steel prices continued their upward trajectory as major producers raised prices, prompting market-wide increases. The most-traded 2505 stainless steel futures contract fluctuated at high levels, with certain spot specifications following the trend.
According to an SMM survey, stainless steel market prices rose on March 17. Leading mills adjusted prices upward, encouraging the broader market to follow suit. The SS2505 futures contract remained strong, showing an overall bullish trend. By 10:30 a.m., SS2505 was quoted at 13,640 yuan/mt. Spot market premiums and discounts for 304/2B in Wuxi ranged from -130 to -90 yuan/mt.
Spot Market Performance
Specific spot prices also saw increases. The average price of Foshan 304/2B coil-trimmed edge rose to 13,840 yuan/mt, up 15 yuan/mt. Wuxi 304/No.1 coil averaged 12,880 yuan/mt, reflecting a 25 yuan/mt increase. However, overall transaction volumes remained moderate, highlighting the need for stronger downstream demand to sustain the upward trend.
