March 10—According to an in-depth survey by SMM,
the stainless steel market was active in the morning with rising offers, though transactions were moderate. In the afternoon, transactions improved significantly. In the futures market, the most-traded stainless steel futures contract SS2505 fluctuated upward. As of 10:30 on March 7, the most-traded stainless steel futures contract SS2505 saw a significant increase in its quotation, reaching 13,475 yuan/mt, up by 25 yuan or 1.6%. Spot premiums and discounts for 304/2B fluctuated significantly, with the stainless steel spot premiums in Wuxi ranging from -155 to 145 yuan/mt.
This week, stainless steel spot prices remained firm. In the morning, prices rose but transactions were weak, dominated by a wait-and-see sentiment. In the afternoon, as the futures market rebounded, downstream buyers' wait-and-see sentiment eased, and they began to make purchases.
For any inquiries regarding stainless steel, please contact Chaoxing Yang at 021-20707860 or 13585549799 (WeChat available).
