The market for 304 steel sheets in March was relatively strong, with spot prices for cold-rolled 304 steel sheets increasing by 500 yuan/ton to 13700 yuan/ton compared to February, and hot-rolled 304 steel sheets increasing by 550 yuan/ton to 13200 yuan/ton compared to February.

At the beginning of the month, the stainless steel market fluctuated and strengthened, with support from the raw material side climbing. Coupled with consecutive price increases at the opening of steel mills, the market has a strong atmosphere of price increases, and trading volume has improved. Some are optimistic about the future and have entered the market for procurement in stages. Later, in the middle of the month, due to weak upward momentum in the market, spot prices fell, and market trading cooled down, resulting in slightly sluggish transactions. Steel mills control the distribution of goods, and the pressure of circulating resources in the spot market is controllable. Merchants stabilize prices and ship goods under cost support. At the end of the month, the rebound in futures drove a rebound in procurement, with active trading of low-level resources. With the strengthening of the market, the spot prices of 304 steel sheets for cold and hot rolling have also risen, and futures resources have received good orders. However, due to the rapid increase within the month, downstream procurement is cautious, and the spot trading volume is limited. The overall inventory in March showed a decrease, with some acceleration in mid month digestion, mainly due to the destocking of resources from orders in the early stages of price increases.