SMM Weekly Maintenance Summary for August 17

[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...

According to the latest data from the General Administration of Customs, in July 2026, China exported 6.02 million tons of steel plates, down 1.8% year-on-year; from January to July, total exports reached 38.26 million tons, down 9.9% year-on-year. In July, China exported 1.92 million tons of steel bars, up 20.9% year-on-year; from January to July, total exports were 11.93 million tons, up 12.3% year-on-year. In July, China exported 660,000 tons of angle steel and shaped steel, up 0.4% year-on-year; from January to July, total exports were 4.58 million tons, up 4.9% year-on-year. In July, China exported 240,000 tons of steel wire rods, down 3.2% year-on-year; from January to July, total exports were 1.6 million tons, down 5.2% year-on-year.

Today (the 18th), China’s self-developed 99,000 cubic meter ultra-large ethane-ethylene carrier was officially handed over to its user, with technical specs hitting world-leading levels. The newly delivered ship is 230 meters long and can carry ethane, ethylene, liquefied petroleum gas, and other liquefied industrial or energy gases. It’s fuel-efficient, low-maintenance, and built for long-haul trips—basically an eco-friendly and cost-effective vessel. Yuan Shizhen, chief designer of the 99,000 cubic meter ultra-large ethane carrier series at CSIC Jiangnan Shipyard, said the ship mainly supports domestic petrochemical companies with ethane transport. It comes with an axle generator and an ethane main engine, cutting sulfur emissions by 99% and hydrocarbons by 18%, giving a real boost to green shipping.