SS Futures Hover Around 13,000 Yuan/mt Mark Stainless Steel Market in Stalemate [SMM Stainless Steel Daily Review]

[SSMM Stainless Steel Daily Review: SS Futures Hover Around 13000 Yuan/mt, Stainless Steel Market in Stalemate] SMM reported on August 18 that the SS futures showed a fluctuating trend. During the daytime session, it briefly dipped below the 13000 yuan/mt level but gradually recovered and closed above this threshold. In the spot market, although some traders attempted to raise prices in the morning, downstream buyers were still reluctant to accept higher prices, resulting in limited actual transactions. As SS futures declined, the market was influenced again, and by afternoon, prices had returned to levels similar to last week, with relatively small fluctuations. The fundamentals remained largely unchanged, and the upward momentum of futures also appeared weak, leading the stainless steel market into a stalemate. For futures, the most-traded contract 2510 was in the doldrums. At 10:30 AM, SS2510 was quoted at 13025 yuan/mt, up 35 yuan/mt from the previous trading day. In Wuxi, the spot premiums and discounts for 304/2B ranged between 195-345 yuan/mt. In the spot market, both Wuxi and Foshan reported cold-rolled 201/2B coils at 8050 yuan/mt; the average price for cold-rolled 304/2B coils was 13150 yuan/mt in both Wuxi and Foshan; the price for cold-rolled 316L/2B coils was 25275 yuan/mt in both regions; the price for hot-rolled 316L/NO.1 coils was 24750 yuan/mt in both locations; and the price for cold-rolled 430/2B coils was 7350 yuan/mt in both Wuxi and Foshan. Recently, social inventory of stainless steel has been declining, and along with macro policies...