SMM Stainless Steel Spot Daily Review: Weak Downstream Purchase Willingness, Cost-Driven Price Resilience. On April 2, the activity in the stainless steel spot market was lackluster, with weak downstream purchase willingness. The most-traded futures contract 2505 fluctuated at a high level, with the SS2505 quoted at 13,570 yuan/mt, up by 65 yuan/mt. In the spot market, prices for 200-series and 316L hot-rolled coils rose, while 304 remained stable. The prices for 201/2B, 316L, and 430 cold-rolled coils, as well as 316L hot-rolled coils, varied in Wuxi and Foshan. Due to cost support, the current transactions were moderate. It is expected that subsequent downstream demand will increase, coupled with cost support, stainless steel prices will remain resilient.