304 offer continues to go lower by 100

Today's Wuxi Market 304 offer: The base price of sheet metal and Hongwang burrs has dropped to around RMB13,100/ton. Traditional state-owned steel mills, Zhangpu's base price for cold rolling went to 13,700 yuan/ton, TISCO and Jiuquan to 13,600 yuan/ton. Compared to last Friday, it fell 100 yuan/ton. In terms of hot-rolling, the decline was relatively small. The price of Castle Peak and Dongte went to RMB 12,900-13,000/ton, which was a decrease of RMB 50/ton compared with last Friday.

The continuous low-cost resources in the market, coupled with the downward adjustment of some steel mills' guiding prices, today's spot market agents and steel traders have sales with low profit.
 
 
The rise in nickel prices last weekend made purchases somewhat better, but high inventory pressures made it difficult to maintain stable prices. In addition, the current market demand for the steel market has started to shift from the traditional peak season to the off-season, and the 304 market has shown inertial decline. Still weak.