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![[SMM Stainless Steel Daily Review] SS Futures Test Highs Since April, Sentiment in Stainless Steel Spot Market Strengthens with Higher Offers](https://static.metal.com/price.metal.com/3.1.17/image/news-default.png)
[SMM Stainless Steel Daily Review] SS Futures Tested Highs Since April, Stainless Steel Spot Market Sentiment Strengthened and Quotes Rose: SMM Jan. 7 - SS futures surged strongly and hit the limit-up. Today, amid the impact of geopolitical conflicts, metal futures generally strengthened significantly, with SHFE nickel also hitting the limit-up. SS futures continued to strengthen and rise, closing at the limit-up and breaking through the 14,000 yuan/mt mark, hitting a new high since 2025. In the spot market, driven by the rapid surge in futures, spot quotes followed with significant increases. Before noon, 304 cold-rolled prices had generally risen by 600 yuan/mt; in the afternoon, as SS futures hit the limit-up, spot quotes climbed further, with large agency traders suspending quotes. Due to the rapid and substantial price increases, downstream end-users became more cautious in purchasing, and actual transactions during the day were limited. However, against the backdrop of strengthening market sentiment, low-priced, discounted supplies had basically disappeared. The most-traded SS futures contract hit the limit-up. At 10:30 a.m., SS2602 was quoted at 138,700 yuan/mt, up 550 yuan/mt from the previous trading day. In Wuxi, the spot premiums/discounts for 304/2B were in the range of 100-300 yuan/mt. In the spot market, the average price for cold-rolled 201/2B coil in Wuxi was 8,300 yuan/mt; the average price for cold-rolled edged 304/2B coil was 13,900 yuan/mt in Wuxi and 13,900 yuan/mt in Foshan; the price for cold-rolled 316L/2B coil in Wuxi was 25,650 yuan/mt, and 245,650 yuan/mt in Foshan; the price for hot-rolled 316L/NO.1 coil in Wuxi was...
