As the Chinese New Year holiday comes to an end, our company officially resumes work today, stepping into the new journey of 2024. On this day of resumption, the Chinese stainless steel market also opens a new chapter, with the futures market shining brightly and the spot market bursting with vitality, marking a promising start.
The stainless steel futures main contract saw a significant increase today, and the Shanghai nickel also experienced a rise. Market quotations generally increased, but steel mill prices have yet to be updated, with many agents maintaining pre-holiday quotations.
To celebrate the market's first wave of demand upon resumption, some suppliers have launched discounts of approximately $8-$15, welcoming the new start.
Despite the rise in market quotations, many traders and customers remain in a wait-and-see mode, anticipating a clearer direction for the market.
Today, we celebrate not only our own return to work but also keep an eye on every dynamic of the stainless steel market. At this new beginning, let us look forward to the steady progress of the market together.
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