Latest Update in the SMM Pig Iron Market

[Brief Review of Domestic Iron Ore Market: Iron Ore Concentrates Prices in Shandong Region May Remain in the Doldrums] This week, Shandong miners reported a price of RMB 865 (up by 21) for 64% grade alkaline iron ore concentrates, dry basis, tax excluded, and acceptance payment at the mine. Steelmakers also raised their prices in tandem. Most miners are operating normally, with overall local sales being average. Inventory has accumulated at some mines and beneficiation plants, while sales at small mills and traders have been relatively average. Currently, the cost-effectiveness of domestic iron ore concentrates has weakened.

Today, the DCE Iron Ore futures continued to operate in the doldrums, with the most-traded contract I2509 closing at 722.5, down 0.89% for the day. Traders' enthusiasm for selling was moderate; steel mills adopted a cautious wait-and-see attitude and purchased as needed.

[SMM Steel Mill Guidance Price] Guidance Prices for Different Series of Domestic Large Stainless Steel Mills on May 19

[SMM Stainless Steel Daily Review: Fading Favourable Macro Front Leads to Weakening Trend in Stainless Steel Futures and Spot Prices, Which Fluctuate Downward] SMM reported on May 19 that today, the SS futures contract exhibited a doldrums trend, ultimately closing with a doji K-line. Recently, as the stimulus from the favourable macro front gradually faded, market dynamics returned to being dominated by supply and demand fundamentals. The spot price continued its slight downward trend, a stark contrast to the previous period. Last week, driven by favourable macro news, the SS futures market took the lead in rising, with the spot market quickly following suit. Downstream demand was concentratedly released in the early stages of the price increase. However, entering this week, the demand side significantly weakened. Today, market transactions were particularly sluggish. To boost sales, some traders opted for slight price concessions, further pushing spot prices lower. In the futures market, the most-traded contract 2507 was in the doldrums. At 10:30 a.m., SS2507 was quoted at 12,975 yuan/mt, down 20 yuan/mt from the previous trading day. In the Wuxi region, the premiums and discounts for 304/2B spot cargo ranged from 345 to 545 yuan/mt. In the spot market, the cold-rolled 201/2B coils in Wuxi and Foshan were both quoted at 8,100 yuan/mt. The average price of cold-rolled mill edge 304/2B coils was 13,275 yuan/mt in Wuxi and 13,225 yuan/mt in Foshan. The cold-rolled 316L/2B coil was priced at 23,875 yuan/mt in Wuxi and the same in Foshan. The hot-rolled 316L/NO.1 coil was quoted at 23,100 yuan/mt in both regions. The cold-rolled 430/2B coil was priced at 7,500 yuan/mt in both Wuxi and Foshan. Factors that frequently disrupted the market in the early stages...

[SMM Rebar Daily Review: Real Estate Data in April Sluggish, Construction Steel Prices Continue to Face Pressure] Today, rebar futures fluctuated downward, closing at 3,069 yuan/mt, down 1.00% from the previous trading day. On the spot cargo side, market trading enthusiasm weakened, with spot rebar quotes loosening in many regions, showing declines ranging from 10 to 30 yuan/mt, and overall trading performance was weak throughout the day.