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Stainless Steel Futures Extend Losses; Mills Cut Benchmark Prices by 300 Yuan/Ton on May 18

GateNews

2026-05-18 08:55:39

According to Jin10 Futures, stainless steel futures extended weakness on May 18 as mills significantly slashed benchmark prices. Qingshan Steel cut cold and hot rolled coil prices by 300 yuan/ton, with key quotations adjusted to 14,700 yuan/ton (Qingshan cold-rolled Indonesia), 14,800 yuan/ton (Hongwang), and 14,500 yuan/ton (304 hot-rolled). Sentiment deteriorated as raw material costs softened, with nickel-containing iron prices declining to 1,150–1,160 yuan per nickel point and chromium iron falling to 8,350 yuan per 50-ton basis. Downstream demand remained cautious and transaction volumes stayed muted.

Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to Disclaimer.

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