[SMM Analysis] China Stainless Future Ease on Fed Hawkishness and Seasonal Weakness, Nickel and Restocking Provide Floor
SMM Weekly Stainless Steel Futures Review — week of July 27 – July 31, 2026. A hawkish Fed hold, deepening off-season demand weakness, and the first inventory build in weeks drag the benchmark contract down RMB 135/mt in the week