The stainless steel main company has continued to weaken since January 25, 2023, after hitting a new high of 14,430 yuan/ton, down 1.11% as of 9:13 today, falling for six consecutive days, with a maximum decline of 4.82% in six days. Recently, the average spot price trend of 304/2B volume-raw edge (Wuxi) was relatively stable, and it was flat on January 31 compared with the previous day. SMM expects stainless steel futures to fluctuate sideways in the short term, and the price may run weakly in the case of overcapacity after the Spring Festival.
IPCSS, February 1: According to IPCSS research, the fundamentals of stainless steel near the Spring Festival are weak in both supply and demand, and the spot price has been sideways in the past week, but the futures price has fallen sharply.
The stainless steel main company has continued to weaken since January 25, 2023, after hitting a new high of 14,430 yuan/ton, down 1.11% as of 9:13 today, falling for six consecutive days, with a maximum decline of 4.82% in six days.
Recently, the average spot price of SMM304/2B roll-burr (Wuxi) was relatively stable, reported at 14,100 yuan/ton on January 31, unchanged from the previous day. According to SMM research, on January 31, the spot transaction of stainless steel continued to be light, and traders have entered a holiday state. The prices of high-nickel pig iron and high-carbon ferrochrome and scrap stainless steel have been stable recently, and the cost line of stainless steel has remained stable, and the spot price of stainless steel is expected to remain stable in the short term.