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Stainless Steel Futures Market Volatility with Price Adjustments

Jul 12, 2024

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Stainless Steel Futures Market Volatility with Price Adjustments

Yesterday, the main contract of Shanghai nickel futures closed down by 820 yuan to 137,430 yuan/ton, and the main contract of stainless steel futures on the Shanghai Futures Exchange closed down by 235 yuan to 14,010 yuan/ton, with stainless steel futures hovering around 14,000 yuan/ton again. Affected by the green plate of futures, the situation has changed dramatically, and the boost brought about by the previous price increase of Qingshan 304 has completely disappeared. Yesterday, some resources were weakly adjusted in the middle. In terms of 304, mainstream tax-inclusive prices such as Chengde, Hongwang, and Yongjin are around 13,650-13,900 yuan/ton, and the mainstream tax-inclusive price of private five-foot hot-rolled is around 13,500 yuan/ton. In terms of narrow bands, Qingshan is reported to be around 13,500 yuan/ton tax-inclusive, and Jinhai and Xinfeng are quoted at around 13,000 yuan/ton tax-inclusive. On the 201 side, the mainstream tax-inclusive prices for J1 four-foot cold-rolled resources such as Chengde, Hongwang, and Beiganghai New Materials are around 8,800-8,850 yuan/ton; J2 and J5 resources are around 8,100-8,150 yuan/ton tax-inclusive; J1 four-foot hot-rolled tax-inclusive is 8,600 yuan/ton. For 201 hot-rolled narrow bands, Qingshan and Baosteel Desheng J1 are around 8,600 yuan/ton tax-inclusive, and J3 hot-rolled narrow bands such as Qingshan, Jinhai, and Xinfeng are quoted at 7,850-8,200 yuan/ton tax-inclusive. Affected by the decline in the futures market, the stainless steel spot market is slightly weak, with flexible market operations and a certain room for negotiation in transactions.

Note: This article is for reference and communication only and does not constitute any investment or decision-making advice.

Americ Energy (CHINA) Co., Ltd. stands as a prominent manufacturer and distributor of a comprehensive range of stainless steel products, designed to cater to the diverse needs of various industries. Their offerings encompass stainless steel tubes, plates, strips, and square tubes, all manufactured to uphold the highest quality benchmarks.

Contact Information:

  • Website: www.metal-ae.com
  • Email: ae@americenergy.com
  • Phone: 13521210668
  • whatsapp: 13521210668
  • Address: No.298 Fengwei Road, Xishan Development Zone, Wuxi City, Jiangsu Province, China

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