304 Stainless Steel Futures Soar, 201 Feels Lonely, Today's Plate and Coil Market Rises by 50-100 Yuan
Jul 03, 2024
July 1st, 2024 Foshan Market News:
Today, the A-share market once again made headlines, with the stock index not yet recovering 3000 points, but the start of July is undoubtedly red, with more gains than losses in individual stocks. The arrival of good news has driven the stock market into a joyful atmosphere.
The stainless steel futures market has also been on the rise throughout the day, with a high of 14150 hit during the day. Although there was some fluctuation at high levels, the market still closed at a high level, playing a key reference role for the rise in spot prices. Despite the rise in futures, the spot market is mostly shouting about the rise, but there is still some transaction volume that gives the market's price rise some momentum.
The 304 cold rolled market's Qingshan agent continues to report flat prices, and the market traders are mostly flat, with some specifications chasing up by 30-50 yuan/ton. The market mainstream is gradually moving towards 13,600-13,700 yuan/ton, but there are still a few low positions at 13,530-13,550 yuan/ton for special sales. There is still a small price difference between quotations and transactions, and the trading is quiet. However, as the market continues to rise later, the spot price is gradually increasing by 50, with some continuing to rise and others offering discounts of 20-50 to facilitate transactions.
For 304 hot rolled, Qingshan agents report flat prices, and traders are mostly flat, with some narrow band resources offering discounts of 20-30 yuan/ton for sales. In the afternoon, some prices fluctuate to test transactions.
For 201, the hot rolled agent is flat, and traders offer some discounts of 20-30 yuan/ton for sales, with a rebound of 20-30 yuan/ton in the afternoon to return to the mainstream. Cold rolled agents and traders mostly report flat prices, but there are still discounts of 20-30 yuan/ton for transactions. Although some follow the rhythm of 304 in the afternoon to try to find transactions, the overall atmosphere is quiet, and there is not much response to transactions, with some transactions for specific specifications looking for cheaper prices.
For 430, the hot rolled market is mostly flat, and the cold rolled market has seen a drop of about 50 yuan/ton for some private brand resources, with the market transaction being flexible in pricing.
300 Series Cold Rolled: The Foshan stainless steel market plate and coil reference price shows that in the morning, 304 cold rolled market agents took orders flat, and traders were partly flat, with some chasing up by 30-50 as the market mainstream moved to 13,580-13,700 yuan/ton, mainly towards 13,600-13,650 yuan/ton. After the futures market closed, some prices were raised again by 30-50.
300 Series Hot Rolled: Today, Qingshan agents reported July resources: Dingxin 304 cold rolled narrow strip at 13,200 yuan/ton, hot rolled narrow strip at 13,300 yuan/ton; 30478 cold rolled narrow strip at 12,700 yuan/ton. 304 hot rolled slab at 13,330 yuan/ton, 30478 hot rolled slab at 12,800 yuan/ton.
200 Series Cold Rolled: Today in the morning, 201 cold rolled Qingshan agents took orders flat, and the market was partly flat, with some still falling by 20-30, with the mainstream market price at 8,030-8,100 yuan/ton, with some quiet trading and some transactions for specific specifications looking for cheaper prices.
200 Series Hot Rolled: Today, Qingshan agents reported: Dingxin J2 at 7,900 yuan/ton; J3 at 8,200 yuan/ton; J1 at 8,600 yuan/ton; J4 at 9,200 yuan/ton. Some specific tube material spot reports at 7,800 yuan/ton.
400 Series Cold and Hot Rolled: Today, the hot rolled market's atmosphere of rising and falling is not obvious, with specific quotations still mainly flat, but most have expressed that they can offer discounts for shipments but need to negotiate; the cold rolled market has seen a gradual atmosphere of price drops, with some merchants maintaining stable prices to test downstream purchasing power, and some updating quotations by reducing 50 yuan/ton, with the market trading atmosphere being limited in activity, and specific transaction speeds showing slow performance.
The mainstream market quotations are as follows: 410S hot rolled black skin at 6,100-6,150 yuan/ton; 430 hot rolled black skin at 6,700-6,800 yuan/ton; Taigang/Jiu Steel 430/2B (rough) at 7,950-8,000 yuan/ton; Lian Zhong 430/2BA (rough) at around 7,850 yuan/ton; Hongwang 430/2BA (rough) at 7,750-7,800 yuan/ton; Yongjin 430/BA (rough) at around 8,350 yuan/ton; Shangke 430/BA (rough) at around 8,350 yuan/ton; Hongwang 430/BA (rough) at 8,150-8,200 yuan/ton; Ruigang 430/2BA (rough) at 7,700-7,750 yuan/ton, with futures prices at around 7,800 yuan/ton; Lian Cheng 430/BA (rough) at around 8,200 yuan/ton.
Raw Material: Today, the mainstream ex-factory quotation for high carbon chromium iron remains flat at 8,900-9,000 yuan/50 basic tons.
Company Introduction: Americ Energy (CHINA) Co., Ltd. is a distinguished manufacturer and distributor of a wide array of stainless steel products, tailored to meet the varied requirements of multiple industries. Their product range includes stainless steel tubes, plates, strips, and square tubes, all produced to meet the highest quality standards.
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