Stainless Steel Futures Stopped Decline While Spot Prices Remained Under Pressure [SMM Stainless Steel Spot Daily Review]

On September 11, stainless steel opened low and moved higher in the night session, with wide fluctuations and upward corrections. As futures prices recovered, Delong's cold-rolled stainless steel spot prices were reduced by 300 yuan/mt to align with the market. Spot prices basically halted their decline, but downstream purchasing willingness remained poor, indicating that stainless steel prices are expected to fluctuate downward in the short term. In the morning, 304 cold-rolled stainless steel in Wuxi was quoted at 13,400-13,900 yuan/mt, and 304 hot-rolled stainless steel in Wuxi was quoted at 13,000-13,100 yuan/mt. 316L cold-rolled stainless steel in Wuxi was quoted at 24,600-25,000 yuan/mt. 201J1 cold-rolled stainless steel in Wuxi was quoted at 8,200-8,400 yuan/mt. 430 cold-rolled stainless steel in Wuxi was quoted at 7,550-7,750 yuan/mt. As of 10:30, SHFE SS2411 contract price was 13,265 yuan/mt, with Wuxi stainless steel spot premiums at 410-860 yuan/mt (spot cut edge = uncut edge + 170 yuan/mt).