As the portal metal.com reports, imports rose to a new high of 200,000 mt. The stainless steel market remained stable with few transactions.
Furthermore, metal.com reports that the base quotations of #304 cold-rolled coils in October 2020 were between 12,900-13,400 yuan/mt.
According to a survey of traders conducted by metal.com, some representatives had suspended the sale of coils due to the shortage of spot supplies from Hongwang, and reserved the supplies for later sale of sheet metal.
Currently, it seems that there is an increasing shortage of hot-rolled stainless steel. Various sources report that hardly any material is available on the market. Especially the European market seems to be struggling with this problem. As can be read here for example: European coil buyers go away empty-handed.
Source: metal.com
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