SS contract stopped falling; stainless steel spot prices remained weak [SMM Stainless Steel Spot Daily Review]

On August 15, according to an SMM survey, stainless steel futures experienced wide fluctuations before correcting upwards, but spot prices continued to be weak. The decline in prices from yesterday afternoon extended into the morning, but stabilized in the afternoon with a reduction in low-priced warrants. For 316, resources from Dongte and Zhangpu, both hot and cold rolled, followed Qingshan's decline. Current downstream demand is insufficient to support prices, which are expected to continue fluctuating weakly. In the morning, 304 cold-rolled in Wuxi was quoted at 13,650-14,100 yuan/mt, and 304 HRC in Wuxi was quoted at 13,200-13,300 yuan/mt. 316L cold-rolled in Wuxi was quoted at 24,800-25,000 yuan/mt. 201J1 cold-rolled in Wuxi was quoted at 8,400-8,500 yuan/mt. 430 cold-rolled in Wuxi was quoted at 7,800-7,900 yuan/mt. At 10:30 AM, the SHFE SS2409 contract price was 13,550 yuan/mt, with Wuxi stainless steel spot premiums at 240-690 yuan/mt. (Spot cut edge = uncut edge + 170 yuan/mt).