SS Futures Rebound to 13,000 yuan/mt, Stainless Steel Mills Raise Prices While Downstream Struggles to Accept [SMM Stainless Steel Daily Report]

[SMM Stainless Steel Daily: SS Futures Rebound to 13,000 yuan/mt, Downstream Struggles to Accept Steel Mills' Price Hikes] SMM, September 1 — SS futures showed resilient performance, continuing yesterday's upward trend and briefly breaking through the 13,000 yuan/mt mark during the session. In the spot market, confidence was boosted by the sustained rise in SS futures, coupled with early price increases from major stainless steel mills, prompting market quotations to follow suit. However, downstream acceptance of high prices remained low, with elevated offers leading to sluggish actual transactions. In the afternoon, traders began offering discounts, improving trading activity. Although the market generally holds bullish expectations for September's stainless steel outlook, end-use demand has yet to recover, keeping downstream players cautious. Futures-wise, the most-traded contract 2510 fluctuated within a range. At 10:30 am, SS2510 was quoted at 12,965 yuan/mt, up 105 yuan/mt from the previous trading day. In Wuxi, spot premiums/discounts for 304/2B ranged between 305-605 yuan/mt. Spot market data showed Wuxi's cold-rolled 201/2B coil averaged 8,100 yuan/mt; cold-rolled trimmed 304/2B coils averaged 13,250 yuan/mt in both Wuxi and Foshan; Wuxi's cold-rolled 316L/2B coils were priced at 25,675 yuan/mt, matching Foshan's level; hot-rolled 316L/NO.1 coils were uniformly quoted at 25,150 yuan/mt in both regions; cold-rolled 430/2B coils in Wuxi and Foshan both stood at 7,450 yuan/mt...