I. Futures Market
China Stainless Steel Futures Contract 2402: Today’s rise is about $30, with the spot-futures price difference presenting a negative value.
II. Market Dynamics
1. Foshan Market:
304 Cold Rolled: Experienced an initial rise followed by a decline to promote transactions. However, overall transactions were moderate.
304 Hot Rolled: Agency prices remained stable, with some traders adjusting prices.
201 Series: Hot rolled showed mixed trends of rises and falls, while cold rolled prices remained stable with minor adjustments to promote transactions.
430 Series: Prices for both cold and hot rolled roughly remained stable.
2. Wuxi Market:
304 Cold & Hot Rolled: Quotations largely stable, with some cold rolled prices slightly increasing in the afternoon.
201 Series: Cold rolled prices stable, with minor increases in hot rolled.
III. Industry News
1. Ningbo Baoxin Stainless Steel Co., Ltd.’s No. 1 Acid Regeneration Station relocation project received environmental impact assessment approval.
2. A subsidiary of Gansu Jisco Group has applied for a patent for “A Duplex Stainless Steel AOD Converter Molybdenum Alloying Smelting Method.”
3. Guangqing Metal Technology steel plant’s slab continuous casting set a new record of over 30,000 meters.
4. Ningbo Baoxin’s annual production of 60,000 tons of high-quality stainless steel bright plate project’s No. 3 brightening unit reached production smoothly.
IV. Raw Materials
1. Jinchuan Group’s Shanghai electrolytic nickel quote increased by 1,500 RMB/ton.
2. Tsingshan Group’s latest ferromolybdenum tender price is 209,800 RMB/60 base tons.
3. POSCO PZSS’s latest ferromolybdenum tender price is 208,000 RMB/60 base tons.
V. Shipping Related
1. Maersk container ship attacked, suspending all vessels passing through the Red Sea and the Gulf of Aden.
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Post time: Jan-04-2024
