The stainless steel coil market in Wuxi

In February, Wuxi stainless steel coil ushered in a good start, with the market price of Q345B square and rectangular tubes steadily rising. Both raw material billets and tube mills have seen significant price increases. After the new year, the market has not fully recovered in terms of end-user demand, and transactions remain slow. However, this has not stopped the upward trend in the market price of Wuxi Q345B square and rectangular tubes. In early February, due to the traditional Spring Festival holiday, businesses were closed and the market was closed. After the fifteenth day of the first lunar month, steel billets and futures prices rose steadily, and various steel products in the steel market soared, with seamless tube prices also continuing to rise. As of February 22nd, taking 100*100*4.5mm as an example, the price of Wuxi Q345B square and rectangular tubes has increased by up to 410 yuan per ton (price per ton, the same below). However, in late February, futures prices fluctuated and weakened, and the steel market showed a slight downward adjustment trend, which hindered the further upward trend in the market price of Wuxi Q345B square and rectangular tubes. In terms of inventory, after the Spring Festival, businesses' early stockpiling resources accelerated to reach the market under the stimulus of continuously rising ex-factory prices at tube mills. Overall social inventory increased, and businesses' willingness to sell and cash out strengthened, often adopting a fast-in and fast-out operation mode.