Daily Stainless Steel Market Update

The stainless steel market continues to experience fluctuations with a focus on the 304 and 201 grades. Here's a summary of the day's market movements:

304 Cold Rolled Market

Early in the morning, the 304 cold rolled market saw the Qingshan agent maintain a steady pace with the first wave of traders also holding steady and watching the market. However, as the market price nearly broke through the 13,800 threshold, coupled with a 100 yuan/ton drop in the opening price of Qingshan, agents followed suit, and traders had to adjust downward to secure transactions. Initially, there was a tentative drop of 20-50 yuan/ton, but later it mostly settled around 50 yuan to compete for lower prices. Futures were lower than spot prices, and later the spot prices also accelerated their downward trend. Delong and others moved from an early price of 13,480-13,550 yuan/ton to 13,450-13,500 yuan/ton, with resources from the Qingshan series gradually falling to 13,500-13,550 yuan/ton.

304 Hot Rolled Market

In the 304 hot rolled market, Qingshan agents followed the market price, but the narrow strip continued to move downward by 100 yuan below the market price. Market traders also followed with a drop of 50-100 yuan. In the afternoon, some traders continued to offer discounts to secure transactions, and there were inquiries for lower-priced resources.

201 Cold and Hot Rolled Market

For the 201 grade, the steel mills opened at a steady price, but hot rolled agents sold 100 yuan below the market price, with traders also seeing a drop of about 50 yuan. Cold rolled agents maintained a price 200 yuan below the market price, and the overall market price continued to decline, with the mainstream price at 8,100-8,150 yuan/ton. However, to secure transactions, some J5 resources were sold at prices 50 yuan below the quoted price, with a small number of dark market sales at 8,000 yuan/ton. The market price remains weak, with an increase in special prices in the afternoon.

430 Cold and Hot Rolled Market

The 430 series saw no change in cold and hot rolled quotes, with the market trading atmosphere being average and transactions limited.

Market Summary

Overall, the market is characterized by a competitive downward trend in pricing as traders aim to secure transactions. The 304 grade, both cold and hot rolled, saw significant adjustments, while the 201 grade continued to experience a soft market with special prices becoming more prevalent. The 430 series remained stable with limited transactions.