On February 11, stainless steel electronic trading slightly declined within a narrow range, while spot prices remained stable or dropped slightly. Steel mills initially aimed to boost spot prices with high opening prices, but due to the impact of substantial pre-holiday inventory and market expectations, both futures and spot prices failed to rise significantly and instead declined within a narrow range. In Wuxi, 304 cold-rolled stainless steel was quoted at 13,000-13,350 yuan/mt, 304 HRC at 12,450-12,600 yuan/mt, 316L cold-rolled stainless steel at 23,800-24,200 yuan/mt, 201J1 cold-rolled stainless steel at 7,800-7,900 yuan/mt, and 430 cold-rolled stainless steel at 7,200-7,450 yuan/mt. At 10:30 a.m., the SHFE SS2503 contract price was 13,245 yuan/mt, with Wuxi stainless steel spot premiums at -75-275 yuan/mt (spot trimmed edge = mill edge + 170 yuan/mt).
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