On January 16, after the electronic trading session pulled back last night, the market maintained a stable trend today, with spot prices remaining steady. As the Chinese New Year approaches, market transactions were sluggish, and sentiment was relatively low. The destocking by traders and public warehouses was not significant, while some merchants slightly restocked to get ahead. 304 cold-rolled stainless steel in Wuxi was quoted at 12,900-13,200 yuan/mt, 304 HRC in Wuxi at 12,400-12,600 yuan/mt, 316L cold-rolled stainless steel in Wuxi at 23,600-23,800 yuan/mt, 201J1 cold-rolled stainless steel in Wuxi at 7,600-7,750 yuan/mt, and 430 cold-rolled stainless steel in Wuxi at 7,150-7,450 yuan/mt. At 10:30 a.m., the SHFE SS2503 contract price was 13,220 yuan/mt, with Wuxi stainless steel spot premiums at -150-150 yuan/mt. (Spot trimmed edge = mill edge + 170 yuan/mt).
