With the conclusion of the Lantern Festival, the Chinese New Year holiday has come to an end. This week, stainless steel electronic trading shifted to the 2505 contract, showing a fluctuating downward trend in prices, while spot prices slightly declined. As of February 14, SMM Wuxi region quotes for 304 cold-rolled coil were 12,950-13,300 yuan/mt, with the average price down 33 yuan/mt WoW. Hot-rolled prices stood at 12,450-12,600 yuan/mt, with the average price up 15 yuan/mt WoW.
In terms of supply, stainless steel social inventory increased by 1.53% WoW this week. Specifically, Wuxi region inventory for the 200-series rose by 1.89%, the 300-series by 1.89%, and the 400-series decreased by 1.25%; Foshan region inventory for the 200-series increased by 2.04%, the 300-series by 2.33%, and the 400-series decreased by 2.03%.
On the demand side, despite the end of the holiday, market demand remained sluggish, making it difficult to reduce social inventory, with shipments staying at low levels. However, the 400-series maintained stable outflows from warehouses. Overall, post-holiday steel mill shipments did not decrease, and spot cargoes continued to arrive. The stainless steel market is expected to maintain a strong supply and weak demand trend next week, with spot prices remaining stable or slightly declining.
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