Galaxy Futures: Costs have some support, and stainless steel is likely to stay mildly bullish in the short term, trading in a range.

During the consumption off-season, the weather is hot and rainy, domestic demand is weak, and terminal rigid purchases are limited. It only increases some trading volume when the stainless-steel futures market rises. Meanwhile, some capacity at steel mills is still under maintenance; incoming supplies of the 300 series are not under much pressure. However, steel mills’ restart in August will increase overall supply and test downstream capacity to absorb it. Spot performance remains steady, with costs providing some support. Stainless steel is likely to stay in short-term sideways-to-strong momentum. But macro risks are significant: risk appetite among funds has fallen, there is insufficient upward impetus, and it is difficult to return to the prior strong pattern. It is expected to shift to broad-range consolidation. (Galaxy Futures)
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