SS Futures Fluctuate, Downstream Adopts Cautious Wait-and-See Approach; Stainless Steel Cold and Hot Rolled Markets Diverge [SMM Stainless Steel Daily Report]

[SMM Stainless Steel Daily Review: SS Futures Fluctuations Keep Downstream End-Users Cautious, Cold-Rolled and Hot-Rolled Stainless Steel Markets Diverge] SMM, Sep. 10: SS futures were in the doldrums. Although the night session saw prices break below 12,900 yuan/mt due to weakness in the ferrous metals series, they gradually strengthened after the daytime session opened and held above 12,900 yuan/mt. In the spot market, downstream end-users remained cautious amid the fluctuations in SS futures, with continued low acceptance of high-priced material, leading to sluggish trading throughout the day. However, supported by costs, traders kept their offers steady. In contrast to the sluggish trading of cold-rolled products, hot-rolled products saw relatively good inquiries and transactions due to tight supply. For futures, the most-traded contract SS2510 was in the doldrums. At 10:30 a.m., SS2510 was quoted at 12,930 yuan/mt, down 35 yuan/mt from the previous trading day. In Wuxi, the spot premiums/discounts for 304/2B were in the range of 290-590 yuan/mt. In the spot market, the average price for cold-rolled 201/2B coil in Wuxi was 8,100 yuan/mt; for cold-rolled trimmed 304/2B coil, the average price was 13,200 yuan/mt in both Wuxi and Foshan; for cold-rolled 316L/2B coil, it was 25,825 yuan/mt in both Wuxi and Foshan; for hot-rolled 316L/NO.1 coil, the price was 25,300 yuan/mt in both regions; and for cold-rolled 430/2B coil, it was 7,550 yuan/mt in both Wuxi and Foshan...