[SMM Stainless Steel Daily Review] SS Futures Fluctuated, Rising First and Then Falling, While Spot Quotes Edged Lower and Transactions Recovered SMM News, March 17: SS futures moved sideways. During the day, SS futures rose first and then fell, overall maintaining a sideways movement pattern, and closed at 14,155 yuan/mt by the midday break. In the spot market, although SS futures were relatively strong in the morning, affected by the previous cuts in guidance prices by major stainless steel mills, trader quotes still edged slightly lower than yesterday. However, market sentiment had stabilized somewhat, and amid the price pullback, both inquiries and transactions increased to some extent. The most-traded SS futures contract fluctuated. As of 10:15 a.m., SS2605 was quoted at 14,220 yuan/mt, up 175 yuan/mt from the previous trading day. Spot premiums for 304/2B in Wuxi stood at 200-400 yuan/mt. In the spot market, the average price of cold-rolled 201/2B coils in Wuxi fell by 50 yuan/mt; for cold-rolled trim-edge 304/2B coils, the average price in Wuxi fell by 50 yuan/mt, and the average price in Foshan also fell by 50 yuan/mt; cold-rolled 316L/2B coils in Wuxi were basically stable; hot-rolled 316L/NO.1 coils were quoted basically stable in Wuxi; cold-rolled 430/2B coils in both Wuxi and Foshan were basically stable. As the traditional peak consumption season of "Golden March and Silver April" began, the stainless steel market entered a window for demand recovery, with downstream end-users gradually recovering. Recently, activity in inquiries and purchases increased markedly, but stainless steel spot prices overall remained basically stable, with no obvious fluctuations. End-user procurement was still mainly driven by rigid demand, and the full bustle of the peak season had yet to emerge, ...

[SMM Daily Spot Stainless Steel Review: Favourable Macro Front Supports Stainless Steel Prices to Rise, but Demand Constraints Result in Weak Upward Momentum] SMM reported on May 13 that amidst the easing of China-US tariff policies, today's SS futures prices held steady above 12,900 yuan/mt, but overall, they fluctuated, and further upward movement faced resistance. The spot price, driven by this trend, also held up well, but the increase had slowed compared to yesterday. Following yesterday's price rise, the purchasing demand that had been suppressed by pessimistic wait-and-see sentiment in the market was released, and transactions significantly improved. Today, transactions have somewhat cooled down, but they are still better than before. In the futures market, the most-traded 2507 contract fluctuated. At 10:30 a.m., SS2506 was quoted at 12,910 yuan/mt, up 160 yuan/mt from the previous trading day. In the Wuxi region, the spot premiums/discounts for 304/2B stainless steel ranged from 350-500 yuan/mt. In the spot market, the cold-rolled 201/2B coils in Wuxi and Foshan were both quoted at 8,050 yuan/mt; the cold-rolled trimmed 304/2B coils had an average price of 13,175 yuan/mt in Wuxi and 13,150 yuan/mt in Foshan; the cold-rolled 316L/2B coils were priced at 23,850 yuan/mt in Wuxi and the same in Foshan; the hot-rolled 316L/NO.1 coils were quoted at 23,050 yuan/mt in both regions; and the cold-rolled 430/2B coils were both priced at 7,500 yuan/mt in Wuxi and Foshan. Currently, significant adjustments are being made to China-US tariff policies: 91% of the previously imposed tariffs will be removed, and among the 34% reciprocal tariffs, the imposition of 24% will be suspended for 90 days, with only ... retained.

In 2023, stainless steel futures prices fell by 18%. In January, consumption was stronger than in previous years, and overcapacity after Chinese Lunar Festival suppressed prices