📰 Stainless Steel Market Update 📰

Stainless Steel Prices and Trends 📉

On June 14th, the stainless steel market in Foshan witnessed a slight downward trend in spot prices. The London nickel price fell by $245 to $17,750 per ton, with a fluctuating performance throughout the day.

Key Insights 🔍

304 Tube Billet Material: The market saw a price reduction with some agents offering competitive rates. The low price for Guangxi narrow strip 304 was around 12,750 RMB/ton including tax.

201 Material: The market price for 201 was around 7,800 RMB/ton including tax, with some agents offering negotiation.

Scrap Stainless Steel: The price for 304 scrap material saw a drop of 50-100 RMB/ton in the morning, with some recovery in the afternoon, leading to a price gap of around 100 RMB/ton.

Market Behavior 🛍️

Buyers and sellers in the market are adopting a wait-and-see attitude, with some opting for lower prices but not actively selling. The overall transaction was mainly in small orders.

Price Adjustments 📊

Some merchants reported increased pressure in picking up goods. By the afternoon, only a small number of buyers were looking for goods, with the market adjusting prices to attract sales.

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