【SMM Steel】US Starts Anti-Circumvention Probe on Vietnam's Steel Wheels

The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on 18 Jun , 2026

Japan’s cold-rolled sheet and strip shipments reached 347,530 tonnes in April 2026, down 14.8% from March and 0.3% year on year. Domestic shipments accounted for 56.5%, while exports made up 43.5%. Inventories fell to 640,200 tonnes, down 1.7% MoM and 3.1% YoY. Production stood at 336,307 tonnes, down 11.8% MoM and 14.6% YoY.

[SMM Stainless Steel Daily Review] Macro Headwinds Drove SS Futures to Swing Wildly, Spot Stainless Steel Transactions Weakened but Prices Remained Firm According to SMM on June 18, SS futures were in the doldrums. Despite a pullback, the decline was limited, and the contract moved sideways during the day. As of market close, the most-traded SS futures contract settled at 15,150 yuan/mt. In the spot market, influenced by the sideways movement of futures and the approaching Dragon Boat Festival holiday, trading activity was mediocre under the combined effect of cautious wait-and-see sentiment and the holiday mood. Quotations remained firm, supported by steel mill guidance prices. SS futures, the most-traded contract: At 10:15 AM, SS2607 was reported at 15,060 yuan/mt, down 150 yuan/mt from the previous trading day. Spot premiums for 304/2B in the Wuxi area were in the 160-560 yuan/mt range. In the spot market, the average price for cold-rolled 201/2B coil in Wuxi was flat. For cold-rolled 304/2B coil with raw edges, the average price in Wuxi was flat, and the average price in Foshan was flat. The price of cold-rolled 316L/2B coil in the Wuxi area was flat. For hot-rolled 316L/NO.1 coil, the quotation in Wuxi increased by 70 yuan/mt. Cold-rolled 430/2B coil prices in both Wuxi and Foshan held steady. This week, stainless steel futures and spot cargo experienced wild swings. Outside China, fluctuating macro expectations repeatedly disturbed the futures market, intensifying the tug-of-war between longs and shorts. The overall pattern was one of macro factors dominating futures trends, transactions fluctuating with sentiment, tightening supply supporting spot cargo, stable inventory, and slightly recovering margins. At the start of the week, macro tailwinds lifted market sentiment, and a futures rebound drove a recovery in spot transactions. Mid-week, hawkish expectations for the US Fed intensified, futures weakened again, and end-user …