Stainless Steel Market Update

Date: July 17, 2024

The A-share market closed with two down and one up index, mainly fluctuating throughout the day.

Stainless Steel Futures and Spot Market

The futures market for stainless steel showed weakness, falling below the 13,900 mark in the morning and recovering slightly before falling again. In the afternoon, there was a slight rebound followed by another drop below the 13,800 mark, but it rebounded back above the mark, still closing in the red. The spot market was mostly stable in the morning, with some discounts for transactions, but the mainstream prices remained relatively stable. In the afternoon, as the futures market dived, the market prices for Delong gradually moved closer to the 13,500 base, and some warehouse receipt resources went as low as 13,470 base.

304 Cold Rolled Market

In the morning, the 304 cold rolled market with Tsing Shan agents continued to follow the flat plate price, while traders saw the first wave of some flat, and some specifications fell by 30-50 yuan/ton. The market was still quiet, but some still insisted on high position observation, and the mainstream market prices were still mostly between 13,530-13,600 base.

Afternoon saw a dive in the futures market, and the spot market prices began to fluctuate and fall. Some Delong and other resources returned to sales at the 13,500 base, and some warehouse receipt resources went as low as 13,470 base. High market prices mostly fell, and transactions remained quiet.

304 Hot Rolled Market

For 304 hot rolling, Tsing Shan agents kept the same price quotes, while traders of large plates and Dingxin narrow strips still mostly observed the same, and other sources fell by about 50 due to the impact of the plate, and the market's low price purchase also continued to explore and stimulate the market price to move down.

201 Market

For 201, hot rolling mostly kept the same price quotes, with some offering discounts of 10-30 for transactions; while cold rolling Tsing Shan agents reduced by 50 to accept orders, and market traders also fell by 20-50 to explore, J5 mostly went to 7,930-7,950 base sales, but the actual transaction part has already fallen to 7,900 base, the price is weak, and transactions are still relatively general.

430 Market

For 430, cold and hot rolling quotes are mostly flat, but some cold rolling resources have fallen by about 50 to facilitate transactions for delivery.

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.