Spot stainless steel prices rise rapidly in the market
October 28, 2022
The spot prices of #304 stainless steel rose sharply following the soaring futures prices. This was because of the tight spot supply of various raw materials and their high prices. The steel mills’ shipments to the market also witnessed a slowdown on the supply side. The demand, however, remained rigid owing to the large engineering infrastructure projects.
(Source: Shanghai Metals Market)