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<2023-03-01> Stainless steel futures contract prices went down for four trading

2023-03-02
SHANGHAI, Mar 1
Stainless steel futures contract prices went down for four trading days in a row, and spot prices also trended lower.

Domestic stainless steel production fell sharply in January, but recovered in February. SMM sees a 42% MoM increase in #200 stainless steel output in February, followed by 23% rise in #300 and 10% growth in #400. 

Optimism over demand recovery drove many stainless steel mills to resume production.

As it takes time to digest high inventories, stainless steel futures prices will have little upside room in the near term.

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