SS Futures Test Cost Support as Stainless Steel Prices Strengthen and Rise [SMM Stainless Steel Daily Report]

[SMM Stainless Steel Daily Review: SS Futures Test Cost Support as Stainless Steel Prices Rally] SMM, September 9 - SS futures held up well during the session. Despite a sluggish night session, prices climbed in tandem with the strong performance of ferrous metals futures after the daytime session opened, briefly approaching the key 13,000 yuan/mt level. Spot market-wise, buoyed by positive SS futures and strengthening cost side, most spot traders maintained optimistic outlooks and raised offers. While cold-rolled product transactions remained sluggish, tight hot-rolled supply supported active inquiries and deals. Futures-wise, the most-traded 2510 contract pulled back. At 10:30 am, SS2510 traded at 12,860 yuan/mt, up 105 yuan/mt from the previous close. Wuxi’s 304/2B spot premiums/discounts ranged between 255-555 yuan/mt. In the spot market, Wuxi’s 201/2B cold-rolled coil averaged 8,100 yuan/mt; 304/2B cold-rolled edges, Wuxi and Foshan both averaged 13,200 yuan/mt; 316L/2B cold-rolled coil, both regions quoted 25,825 yuan/mt; 316L/NO.1 hot-rolled coil, both at 25,300 yuan/mt; 430/2B cold-rolled coil, Wuxi and Foshan both at 7,550 yuan/mt. The market officially entered the September-October peak season. The stainless steel industry widely expects prices to trend upward this month. Although...