[SMM Stainless Steel Market Flash] EU Adds 'Melt and Pour' Origin Rule to Curb Steel Rerouting, Phased to 2028

[SMM Stainless Steel Daily Review] SS Futures Weaken, Spot Stainless Steel Transactions Mediocre, Awaiting Peak Season Validation SMM, August 19 – SS futures maintained a subdued consolidation trend. Dragged lower by the broad decline in nonferrous metals, SS prices pulled back in tandem. As of the close, the most-traded SS contract settled at 14,260 yuan/mt. In the spot market, although SS futures pulled back somewhat, the overall decline was relatively small. Stainless steel traders mostly held their offers steady, with only occasional small discounts. Overall transactions remained sluggish, showing no signs of recovery ahead of the “September-October peak season.” The Most-Traded SS Futures Contract. At 10:15 a.m., SS2610 was at 14,260 yuan/mt, up 25 yuan/mt from the previous trading day. Spot premiums for 304/2B in Wuxi were in the 410-610 yuan/mt range. In the spot market, the average price of Wuxi cold-rolled 201/2B coil was steady; for cold-rolled 304/2B coil with mill edge, Wuxi average price was flat, Foshan average price was flat; the price of Wuxi cold-rolled 316L/2B coil fell by 100 yuan/mt; for hot-rolled 316L/NO.1 coil, Wuxi quotation was flat; cold-rolled 430/2B coil in both Wuxi and Foshan was flat. This week, stainless steel futures were continuously disturbed by macro sentiment, maintaining an overall weak pullback trend. During the week, news on Indonesia’s RKAB nickel ore approval repeatedly disrupted industry expectations. Coupled with the hawkish tone of the US Fed’s policy stance and the unresolved US-Iran geopolitical conflict, macro uncertainty stayed high. Multiple bearish factors dragged SS futures down continuously throughout the week, with bearish sentiment dominating the market and futures movement...

[SMM Stainless Steel Daily Review] SS Futures Consolidate on a Strong Note and Move Higher; Stainless Steel Spot Offers Hold Steady, Transaction Recovery Hard to Sustain According to SMM on August 18, SS futures maintained a strong consolidation pattern, extending the previous day's stronger tone, with prices moving higher. At the close, the most-traded SS futures contract settled at 14,275 yuan/mt. In the spot market, SS futures rebounded and strengthened yesterday afternoon; with guidance prices at mainstream steel mills holding steady, inquiry and transaction activity in the spot market clearly recovered. Today, momentum for further gains was insufficient, transactions weakened somewhat, and trader offers remained firm. The most-traded SS futures contract. At 10:15 a.m., SS2610 traded at 14,235 yuan/mt, up 15 yuan/mt from the previous trading day. Wuxi 304/2B spot premiums were in the 435-635 yuan/mt range. In the spot market, the average price for Wuxi cold-rolled 201/2B coil held steady; for cold-rolled raw-edge 304/2B coil, the Wuxi average rose 25 yuan/mt and the Foshan average rose 25 yuan/mt; Wuxi cold-rolled 316L/2B coil prices fell 100 yuan/mt; for hot-rolled 316L/NO.1 coil, Wuxi quotes were flat; cold-rolled 430/2B coil prices in Wuxi and Foshan were unchanged. This week, stainless steel futures were repeatedly disrupted by macro sentiment and overall remained on a weak pullback trend. During the week, news on Indonesian RKAB nickel mining approvals repeatedly disturbed industry expectations. Combined with the US Fed's hawkish policy stance and the unresolved US-Iran geopolitical conflict, macro uncertainty in the market stayed high. Multiple bearish factors combined to drag SS futures through a sustained pullback during the week, with overall bearish sentiment dominating the market...

[SMM Stainless Steel Daily Review] Nonferrous Sector Boosted; Stainless Steel Futures Stopped Falling and Began to Rise According to SMM news on August 17, SS futures stopped falling and rebounded. Although Friday’s night session remained weak, Monday’s open was lifted by a broad rally in nonferrous metals, and SS successfully reversed its decline and began to rise. By the close, the most-traded SS futures contract settled at 14,275 yuan/mt. Spot market, although SS futures had already staged a rebound, the weak trading pattern in the morning stainless steel spot market did not improve, and traders further lowered their quotes. Only as futures gradually rebounded did spot transactions show some recovery. The most-traded SS futures contract. At 10:15 a.m., SS2610 was at 14,220 yuan/mt, down 25 yuan/mt from the previous trading day. In Wuxi, spot premiums for 304/2B were in the 400-650 yuan/mt range. In the spot market, the average price of Wuxi cold-rolled 201/2B coils held steady; for cold-rolled mill-edge 304/2B coils, the Wuxi average fell 125 yuan/mt and the Foshan average fell 125 yuan/mt; prices of Wuxi cold-rolled 316L/2B coils were unchanged; for hot-rolled 316L/NO.1 coils, Wuxi quotes were unchanged; cold-rolled 430/2B coils in both Wuxi and Foshan were unchanged. This week, stainless steel futures were continuously disturbed by macro sentiment and overall maintained a weak pullback trend. During the week, news on Indonesia’s RKAB nickel ore approval repeatedly disrupted industry expectations. Coupled with hawkish US Fed policy remarks and the unresolved US-Iran geopolitical conflict, macro uncertainty in the market stayed high, and multiple bearish factors resonated to drag SS futures lower throughout the week…