After the Spring Festival, SS futures strengthen, while stainless steel spot prices follow the rise with thin trading volume.

K-LinePoet · 2026-02-28T14:54:43+00:00

Spring Festival holiday ends, SS strengthens; stainless steel spot prices follow the rally with thin trading. According to SMM on February 24, SS futures continued their strong upward trend. On the first trading day after the holiday, driven by the strengthening of London nickel during the holiday, Shanghai nickel caught up after the holiday, and SS futures also strengthened accordingly, closing at 14,085 yuan/ton. In the spot market, on the first trading day after the holiday, some traders were still on vacation, and actual transactions during the day were relatively light. Spot prices followed the SS futures rally, and market confidence improved. The main contract of SS futures strengthened and moved higher. At 10:30 AM, SS2604 was quoted at 14,125 yuan/ton, up 360 yuan/ton from the previous trading day. In Wuxi, the premium/discount for 304/2B spot is in the range of 145-345 yuan/ton. In the spot market, the average price for Wuxi cold-rolled 201/2B coils is 8,500 yuan/ton; for cold-rolled, untrimmed 304/2B coils, the average price in Wuxi is 14,200 yuan/ton.

K-LinePoet

2026-02-28 14:54:43

The SS futures market continues to strengthen after the Spring Festival holiday. Spot stainless steel prices are also rising along with futures, but trading remains light. According to SMM on February 24, SS futures prices have maintained a strong upward trend. On the first trading day after the holiday, driven by the rally of London nickel during the holiday and the subsequent catch-up of Shanghai nickel, SS futures also strengthened, closing at 14,085 yuan/ton.

In the spot market, on the first trading day after the holiday, some traders are still on vacation, and actual transactions are relatively light. Spot prices have followed the futures market higher, boosting market confidence. The main contract of SS futures has also gained strength. At 10:30 a.m., SS2604 was quoted at 14,125 yuan/ton, up 360 yuan/ton from the previous trading day.

In Wuxi, the 304/2B spot premium/discount ranges from 145 to 345 yuan/ton. In the spot market, Wuxi cold-rolled 201/2B coils are priced at 8,500 yuan/ton; cold-rolled edge-removed 304/2B coils average 14,200 yuan/ton in Wuxi and 14,150 yuan/ton in Foshan; Wuxi cold-rolled 316L/2B coils are 26,600 yuan/ton, same as Foshan. Hot-rolled 316L/NO.1 coils in Wuxi are priced at 25,750 yuan/ton. Both Wuxi and Foshan cold-rolled 430/2B coils are priced at 7,800 yuan/ton.

During the Spring Festival holiday, the domestic stainless steel market entered a seasonal shutdown phase. The Shanghai Futures Exchange also suspended trading, and spot transactions paused, with no significant price fluctuations. (Shanghai Nonferrous Metals Network)

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