SS Spots and Futures Prices Dropped in a Sluggish Market
17:24 Apr 18, 2022 Source: SMM

SHANGHAI, Apr 18 (SMM) - SS contract prices hovered around 19,600 yuan/mt. Spot transactions were sluggish. For now, transportation problems have been solved to some extent. However, the shipment from traders was still hard. Besides, shipment and arrivals of Zhangpu were affected by the closed Zhangjiagang port. What’s more, most of the downstream sectors stopped the production. Logistics restrictions have lasted for nearly a month up to now, putting the spot inventory in the market under huge pressure. Prices of #304 cold-rolled coils moved between 20,000-20,500 yuan/mt, and the prices of #304 hot-rolled coils were at 19,700-19,800 yuan/mt. Quotes of #430 cold-rolled coils dropped again, with the average price standing at 9,750 yuan/mt, down 100 yuan/mt. As of 10:30 a. m. today, the SHFE SS 2205 contract stood at 19,570 yuan/mt, and the spot premiums in Wuxi were at 600-1,100 yuan/mt (Spot price of deburred edge products = Spot price of burr edge products + 170 yuan/mt).
 

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Key Words:  stainless steel 
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