SS futures in the doldrums, stainless steel spot cargo inquiries decrease [SMM Stainless Steel Daily Review]

[SMM Stainless Steel Daily: SS Futures in the Doldrums, Stainless Steel Spot Enquiries Decrease] SMM, September 23 – SS futures showed a weak and fluctuating trend. Although the night session maintained a relatively strong performance, the daytime session weakened after a brief period of fluctuation at the opening, eventually closing down at 12,890 yuan/mt. On the spot market side, dragged down by the pullback in SS futures, market confidence weakened, and spot enquiries decreased significantly compared to the previous day. Despite traders slightly lowering prices to sell goods, actual trading volume remained sluggish. Additionally, affected by Typhoon "Hagibis," shipments and cargo pick-up in the Foshan region were disrupted, and some traders chose to take the day off today. On the futures side, the most-traded contract, SS2511, traded weakly and fluctuated. At 10:30 a.m., SS2511 was quoted at 12,885 yuan/mt, down 45 yuan/mt from the previous trading day. In the Wuxi region, the spot premiums/discounts for 304/2B were in the range of 335-635 yuan/mt. In the spot market, the average price for cold-rolled 201/2B coil in Wuxi was 8,050 yuan/mt; for cold-rolled trimmed 304/2B coil, the average price in Wuxi was 13,200 yuan/mt, and in Foshan, 13,200 yuan/mt; for cold-rolled 316L/2B coil in Wuxi, 25,650 yuan/mt, and in Foshan, 25,650 yuan/mt; for hot-rolled 316L/NO.1 coil, both regions reported 24,950 yuan/mt; for cold-rolled 430/2B coil, both Wuxi and Foshan reported 7,600 yuan/mt. Although it is currently the traditional peak consumption season of "September-October peak season," and downstream end-use demand for stainless steel has indeed recovered compared to earlier periods, due to within the month...