SS futures jumped initially and then pulled back, with significant pressure above 13,000 yuan/mt. Stainless steel spot prices pulled back, and trading remained weak. [SMM Stainless Steel Daily Report]

[SMM Stainless Steel Daily Review: SS Futures Jump Initially and Then Pull Back With Strong Resistance Above 13,000 yuan/mt, Stainless Steel Spot Prices Pull Back and Trading Remains Weak] SMM, September 16: SS futures continued to show a pattern of jumping initially and then pulling back. Although the night session performed strongly overall, successfully breaking through 13,100 yuan/mt, the daytime session opened lower and gradually declined, falling back below 13,000 yuan/mt. In the spot market, morning trading was driven by the strong performance of SS futures, with traders raising their offers accordingly; however, actual transactions were relatively scarce. Subsequently, as futures weakened and agents lowered prices to move inventory, market offers followed suit downward, and sales pressure led to somewhat chaotic pricing. Downstream buyers exhibited strong wait-and-see sentiment, and actual transactions remained weak. On the futures side, the most-traded contract 2511 jumped initially and then pulled back. At 10:30 a.m., SS2510 was quoted at 13,045 yuan/mt, up 25 yuan/mt from the previous trading day. In Wuxi, the spot premiums/discounts for 304/2B were in the range of 275-575 yuan/mt. In the spot market, the average price for cold-rolled 201/2B coil in Wuxi was 8,150 yuan/mt; for cold-rolled mill-edge 304/2B coil, the average price in Wuxi was 13,300 yuan/mt and in Foshan 13,330 yuan/mt; for cold-rolled 316L/2B coil, the price in Wuxi was 25,800 yuan/mt and in Foshan 25,800 yuan/mt; for hot-rolled 316L/NO.1 coil, both locations reported 25,200 yuan/mt; for cold-rolled 430/2B coil, both Wuxi and Foshan reported 7,600 yuan/mt. Although the market has entered the traditional consumption peak season of "September-October peak season"...