Stainless Steel Futures Gained Limitedly as Market Held Prices Steady to Facilitate Sales [SMM Stainless Steel Spot Daily Review]

On September 19, stainless steel experienced slight fluctuations overall. After the holiday, due to typhoon weather, arrivals and steel processing in Wuxi were impacted to some extent. Early this morning, the US Fed confirmed a rate cut, but the specific basis points were within expectations, limiting the rise in futures. With a weak fundamental market, the sentiment for price increases was low. During the day, steel mills maintained flat prices for 304 hot and cold rolled coils, while the price for 201 was adjusted downwards. Due to an increase in supply and softening raw material prices, 316 hot rolled coil prices continued to decline. It is expected that spot prices will face upward pressure and remain stable in the short term. In the morning, 304 cold rolled coils in Wuxi were quoted at 13,450-13,800 yuan/mt, and 304 hot rolled coils were quoted at 13,000-13,100 yuan/mt. 316L cold rolled coils in Wuxi were quoted at 24,600-25,000 yuan/mt. 201J1 cold rolled coils in Wuxi were quoted at 8,200-8,400 yuan/mt. 430 cold rolled coils in Wuxi were quoted at 7,550-7,750 yuan/mt. At 10:30 AM, the SHFE SS2411 contract price was 13,445 yuan/mt, with Wuxi stainless steel spot premiums at 175-525 yuan/mt. (Spot cut edge = uncut edge + 170 yuan/mt).