On January 23, stainless steel electronic trading remained stable, and spot prices followed suit. The market is currently in the closing phase, with most participants, except for a few combining futures and spot trading and state-owned enterprises, having started the spring holiday. Social inventory, except for the 400-series, experienced a slight inventory buildup due to pre-holiday arrivals and weak off-season demand. A stainless steel mill in North China is expected to resume 200-series production in March. 304 cold-rolled stainless steel in Wuxi was quoted at 13,000-13,300 yuan/mt, while 304 HRC in Wuxi was quoted at 12,400-12,600 yuan/mt. 316L cold-rolled stainless steel in Wuxi was quoted at 23,600-23,800 yuan/mt. 201J1 cold-rolled stainless steel in Wuxi was quoted at 7,600-7,750 yuan/mt. 430 cold-rolled stainless steel in Wuxi was quoted at 7,150-7,450 yuan/mt. At 10:30 a.m., the SHFE SS2503 contract price was 13,050 yuan/mt, with Wuxi stainless steel spot premiums at 120-420 yuan/mt. (Spot trimmed edge = mill edge + 170 yuan/mt).
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