The surge of 304 resembles 7 years ago. Will the history of stainless steel futures being 2,000 yuan cheaper than spot prices repeat?
:  : Aug 03,2021

Foshan Market News, July 14, 2021, the latest stainless steel is going to be included in the history of madness. In just 3 working days, the price increase reached 900 or more. Individual steel grades have been adjusted up 4 times today, and some of the 304 cold-rolled specifications have reached the 19,000 mark, which is getting closer and closer to 20,000! Even after it rose to the back, a large area of true and false closures appeared in the market!

That year, 304 cold rolled futures were 21,000 and spot 23,000; 304 hot rolled futures were 18,500 and spot 20,500. As a result, the person who ordered the futures cried. That year, Yongjin bought Southwest Hot-rolled Futures to do cold-rolling, but later cold-rolled only sold at a hot-rolled price

But, please note that in this prosperous scene, most of them are actually buying and selling in the market. In the lonely downstream, it is still rare to enter the venue. After the sharp increase, who will take over? Must it be downstream?

Why is downstream receiving? You will all say that many construction sites have stopped work, and demand is shrinking. It's not that the situation is severe, raw materials are skyrocketing, and there will be no RRR cuts. "