Stainless Steel Futures Declined, Spot Prices Stabilized [SMM Stainless Steel Spot Daily Review]

On August 28, according to an SMM survey, stainless steel futures declined. However, due to the limited drop, the market still maintained spot premiums. Overall, stainless steel spot prices stabilized. Low-priced 304 cold-rolled resources decreased, while hot-rolled resource prices slightly increased, but transactions were poor after the price hike. For 201 stainless steel, recent arrivals decreased, and there are signs of demand picking up in September, with prices overall stable. In the morning, 304 cold-rolled stainless steel in Wuxi was quoted at 13,750-14,100 yuan/mt, and 304 hot-rolled stainless steel in Wuxi was quoted at 13,350-13,450 yuan/mt. 316L cold-rolled stainless steel in Wuxi was quoted at 24,700-25,100 yuan/mt. 201J1 cold-rolled stainless steel in Wuxi was quoted at 8,400-8,500 yuan/mt. 430 cold-rolled stainless steel in Wuxi was quoted at 7,800-7,900 yuan/mt. At 10:30 AM, the SHFE SS2410 contract price was 13,885 yuan/mt, with Wuxi stainless steel spot premiums at 35-385 yuan/mt. (Spot cut edge = uncut edge + 170 yuan/mt)