Report Summary 1. Report Industry Investment Rating - Not provided in the content 2. Core View of the Report - The stainless steel 2508 main contract futures price is expected to continue the current oscillating trend in the short - term. Attention should be paid to the impact of key macro data releases and industrial policy changes on market sentiment and price trends [9] 3. Summary by Relevant Catalogs 3.1 Market Overview and Market Review - **1.1 Daily Market Overall Performance** - On June 30, 2025, the stainless steel futures market rose and then fell. The 2508 stainless steel main contract opened at 12,665 points, reached a high of 12,735 points, a low of 12,600 points, and closed at 12,610 points, down 10 points or - 0.08% from the previous day's closing price. The trading volume was 146,000 lots, an increase of 3,974 lots from the previous day, and the open interest was 101,000 lots, a decrease of 6,160 lots from the previous day. The market activity declined, and the main contract was gradually shifting. In the spot market, the prices of 304 stainless steel cold - rolled coil plate in different regions varied [2] - **1.2 Futures Market Data** - For the ss2507 contract, the closing price was 12,510, down 15 points or - 0.12%, with a trading volume of 3,429 lots, an amplitude of 1.80%, an open interest of 4,908 lots, and a daily decrease of 1,586 lots. For the ss2508 contract, the closing price was 12,610, down 10 points or - 0.08%, with a trading volume of 146,000 lots, an amplitude of 1.07%, an open interest of 101,000 lots, and a daily decrease of 6,160 lots. For the ss2509 contract, the closing price was 12,562, down 10 points or - 0.08%, with a trading volume of 41,255 lots, an amplitude of 0.95%, an open interest of 61,962 lots, and a daily decrease of 2,610 lots [6] 3.2 Analysis of Influencing Factors - The impetus from the production cut of Qingshan stainless steel plant weakened on June 30. The downstream consumer market is in the traditional off - season and difficult to recover in the short - term, resulting in weak demand. The US tariff increase on steel products hinders China's stainless steel exports, especially for low - value - added products, making the demand expectation more pessimistic. The social inventory is at a high level, the de - stocking process is blocked, and it has reached a record high for the same period. The spot market quotation is chaotic, showing panic. The change in the basis structure indicates a pessimistic market expectation [7]