Wanhua Stainless Steel(Shanghai)Co.,Ltd.
Open all menu

Stainless steel: the market is beginning to show signs of recovery


Today, the stainless steel futures market has shown a strong trend, and it has been soaring since the opening. As of 3 p.m., the main contract 2409 closed at 14135 points, touching the highest point of 14150 points during the period, and the lowest point fell to 13985 points, and finally ended with an increase of 0.86%. From a macro perspective, the latest release of the core PCE price index in the United States for May fell to 2.6% year-on-year, the lowest since March 2021, a data that led to a weaker dollar index and provided momentum for the rebound in the metals market. Affected by this, market sentiment has been significantly boosted, the price of black commodities continued to rise, and the price of raw materials rose sharply, pushing stainless steel futures prices to remain in the red throughout the day.