Stainless steel Price updates-1009

On October 9, stainless steel spot prices saw a slight overall decline as the market cooled off.

The weaker performance of non-ferrous futures, combined with declining market transactions, contributed to the price drop. TISCO opened with 304 cold-rolled stainless steel at 13,800 RMB/ton and hot-rolled at 13,500 RMB/ton, followed by a price cap from agents. Other stainless steel producers also opened lower, with 304 cold and hot-rolled prices generally undercutting TISCO by 100 RMB/ton.

Downstream demand remains focused on essential purchases, and prices are expected to remain stable.

In Wuxi, morning reports indicated 304 cold-rolled at 14,000-14,300 RMB/ton and hot-rolled at 13,450-13,550 RMB/ton. Meanwhile, 316L cold-rolled was reported at 24,800-25,200 RMB/ton, 201J1 cold-rolled at 8,000-8,400 RMB/ton, and 430 cold-rolled at 7,600-7,800 RMB/ton.

As of 10:30 AM, SHFE SS2412 contracts were priced at 14,010 RMB/ton, with Wuxi stainless steel spot premiums ranging between 160-460 RMB/ton (trimmed edge = rough edge + 170 RMB/ton).