[SMM Stainless Steel Daily Review] SS Futures Hold Up Well, Stainless Steel Spot Market Trading Sluggish SMM, Jan 23: SS futures continued to hold up well. Although the night session trend was relatively weak, prices gradually climbed after the daytime session opened, with the high point once reaching 14,880 yuan/mt. In the spot market, the strong performance of futures provided support for spot prices. However, downstream end-users showed a strong fear of high prices, resulting in sluggish inquiries and trading. Traders, driven by the need to liquidate inventory and collect payments before the holiday, offered small discounts to facilitate transactions, leading to a slight pullback in offers. In the short term, the strength in futures continues to provide some support to the spot market, but weak end-use demand limits the upside room for prices. Before the holiday, the market is likely to maintain a pattern of "strong futures, weak spot market, and mediocre trading." The most-traded SS futures contract held up well. At 10:30 a.m., the SS2603 contract was quoted at 14,590 yuan/mt, up 225 yuan/mt from the previous trading day. In Wuxi, the spot premiums/discounts for 304/2B were in the range of 80-180 yuan/mt. In the spot market, the average price for cold-rolled 201/2B coil in Wuxi was 8,500 yuan/mt; the average price for cold-rolled trimmed 304/2B coil was 14,550 yuan/mt in Wuxi and 14,450 yuan/mt in Foshan; the price for cold-rolled 316L/2B coil was 26,500 yuan/mt in Wuxi and 26,500 yuan/mt in Foshan; the price for hot-rolled 316L/NO.1 coil was 25,600 yuan/mt in Wuxi; and the price for cold-rolled 430/2B coil was 7,800 yuan/mt in both Wuxi and Foshan. This week, driven by capital flows, market sentiment continued to heat up;...

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