Futures retreat, stainless steel spot transactions pause before the holiday

K-LinePoet · 2026-02-27T06:46:03+00:00

SS futures experienced a strong rally followed by intra-day consolidation and decline, ultimately closing at 13,970 yuan/ton. Although the price of high-nickel pig iron has increased, the spot market remains stable due to most traders being on holiday and logistics being halted, with no significant changes. The spot prices for 304/2B stainless steel in various regions remain stable within the 90-290 yuan/ton range.

K-LinePoet

2026-02-27 06:46:03

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Before the end of the SS futures trading session, the market showed a strengthening trend with upward movement, but intraday it fluctuated downward, finally closing at 13,970 yuan/ton. In the spot market, despite the weekly fluctuations in futures and the rise in high-nickel pig iron prices, most spot traders have already taken holidays, logistics are paused, and prices have not changed significantly. Intraday quotes continue to remain stable. The main contract of SS futures declined and retreated. At 10:30 a.m., SS2604 was quoted at 14,080 yuan/ton, up 70 yuan/ton from the previous trading day. In Wuxi, the spot premium/discount for 304/2B is in the range of 90-290 yuan/ton. In the spot market, the average price for Wuxi cold-rolled 201/2B coils is 8,500 yuan/ton; for cold-rolled uncut 304/2B coils, the average price in Wuxi is 14,100 yuan/ton, and in Foshan, it is 14,050 yuan/ton; for Wuxi cold-rolled 316L/2B coils, the price is 26,600 yuan/ton, and in Foshan, it is also 26,600 yuan/ton; for hot-rolled 316L/NO.1 coils in Wuxi, the price is 25,750 yuan/ton; in Wuxi and Foshan, cold-rolled 430/2B coils are both priced at 7,800 yuan/ton. (SMM)

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