SMM

[SMM Stainless Steel Spot Daily Review: Stainless Steel Market Futures and Spot Linkage, Price Fluctuations Amid the Tug-of-War Between Supply and Demand] On February 21, during the week in the stainless steel market, the electronic May contract saw active trading, with futures prices first declining and then rebounding. This was driven by factors such as disruptions at Indonesian nickel-iron plants, maintenance at Beigang Xincai, and a recovery in macro sentiment, leading to a rise in the closing price on the 21st. In the spot market, prices for different series increased across the board, with the 300 series seeing the largest gains, followed by the 400 series. Although downstream demand was released slowly, the futures market momentum and changes in supply pushed spot prices higher. Market participants need to monitor subsequent supply and demand dynamics to adjust their strategies.