Latest Update in the SMM Finished Steel Market

[SMM Steel Mill Guidance Price] Guidance Prices for Different Series of Stainless Steel at Large Domestic Steel Mills on June 3

[SMM Stainless Steel Daily Review: Agents and Traders Lower Prices During Dragon Boat Festival Holiday, Weakness Persists in Stainless Steel Market] SMM reported on June 3 that today, the SS futures market continued its weak trend, with prices briefly falling below the 12,600 yuan/mt threshold. During the Dragon Boat Festival holiday, news emerged that an agent of a steel mill in South China had lowered the prices of 304 cold-rolled and hot-rolled stainless steel, with the price of 304 hot-rolled stainless steel quickly following suit. Despite the 304 cold-rolled stainless steel price remaining higher than the previous mainstream transaction prices after the adjustment, and market quotes temporarily holding steady, this news severely dampened market confidence. Consequently, on the first trading day after the Dragon Boat Festival holiday, market transactions continued their sluggish trend, with overall performance remaining weak. In the futures market, the most-traded 2507 contract was in the doldrums. At 10:30 a.m., SS2507 was quoted at 12,700 yuan/mt, down 10 yuan/mt from the previous trading day. In the Wuxi region, the spot premiums/discounts for 304/2B stainless steel ranged from 470-670 yuan/mt. In the spot market, cold-rolled 201/2B coils in both Wuxi and Foshan were quoted at 7,950 yuan/mt; cold-rolled trimmed 304/2B coils had an average price of 13,100 yuan/mt in Wuxi and 13,100 yuan/mt in Foshan; cold-rolled 316L/2B coils were priced at 24,050 yuan/mt in Wuxi and 24,050 yuan/mt in Foshan; hot-rolled 316L/NO.1 coils were quoted at 23,350 yuan/mt in both regions; and cold-rolled 430/2B coils were priced at 7,500 yuan/mt in both Wuxi and Foshan. Currently, the stainless steel market has fully entered the traditional consumption off-season, with...

[Brief Commentary on Domestic Iron Ore Market: Iron Ore Concentrates Prices in West Liaoning May Continue to Decline] The market trading atmosphere in west Liaoning has remained weak for consecutive periods. The ex-factory prices of local iron ore concentrates with a grade of 66 are 690-700 yuan/mt. Most traders are inquiring cautiously, with low purchasing activity. Only a few traders, in urgent need of restocking, are purchasing small quantities at appropriate prices. Currently, on the supply side, the scarcity of local ROM resources has not improved. Most ore processors are considering cost support and are not shipping their products amid the market downturn, instead choosing to wait and see.

[SMM Steel Mill Guidance Price] Guidance Prices for Different Series of Stainless Steel at Large Domestic Steel Mills on May 30

Today, the Dalian iron ore futures market continued to be in the doldrums, with the most-traded contract I2509 closing at 702, down 0.43% for the day. Traders' willingness to sell was average; steel mills' restocking activities for the week were largely completed, and their purchase willingness weakened.