Thanks Grainger, so replacing this cap would bring an improvement. I will try to find a place for this big cap. What could I expect to change?
One thing though, why do you think that a 304 grade stainless steel would rust? And secondly, it is very difficult to have paint to bond properly with stainless steel. You would need a kind of etching primer for that, it's even more difficult on a mirror finished surface. I am using stainless steel because it won't rust, unlike untreated aluminum which will oxidise in the long run, especially in our hot and humid climate.