[SMM Coking Coal and Coke Daily Brief] 20260507

[China Iron Ore Brief] Iron ore concentrates prices in west Liaoning remained relatively stable, with the current ex-factory price of 66-grade iron ore concentrates at 740 yuan/mt on a wet basis and tax-exclusive. On the mines and beneficiation plants side, the impact of safety and environmental protection inspections persisted, and overall iron ore concentrates resources remained relatively tight. On the steel mills side, most steel mills maintained normal production as planned, while individual steel mills recently began maintenance on their pellet plants, affecting demand for iron ore concentrates

[SMM Silicone Weekly Review: As New Round of Expectations for Price Hike Released, Downstream Enterprises at Various Stages Purchased on Demand] This week, the transaction center of China's silicone DMC market remained stable, with mainstream transaction range at 14,700-15,000 yuan/mt. Regional quotations continued to diverge, with monomer enterprises in Shandong maintaining quotations at 14,700 yuan/mt, while mainstream quotations in other regions were 15,000-15,200 yuan/mt. Post-holiday market transactions were mainly driven by rigid demand, as mid- and downstream enterprises that had not purchased before the holiday entered the market to restock on demand. Currently, some upstream producers have pre-sale orders scheduled through month-end of May, and producers maintained a firm willingness to hold prices firm. Combined with the approaching industry conference in May, overall bullish sentiment in the market strengthened, which also drove downstream enterprises to enter the market for procurement.

[SMM Analysis: Futures Strength Fails to Offset Arrival Pressure, Stainless Steel Social Inventory Stops Falling and Rebounds] On May 7, SMM reported that stainless steel social inventory stopped falling and rebounded this week, ending the previous continuous destocking trend and shifting to a slight inventory buildup. Total inventory across the two core markets of Wuxi and Foshan edged up, rising from 945,900 mt on April 30, 2026 to 955,200 mt on May 7, up 0.98% WoW, showing a phased inventory buildup pattern. This week was the first week after the Labour Day holiday. The market gradually resumed normal trading. Driven by further strengthening of SS futures, stainless steel spot prices rose in tandem. The downstream mentality of "rush to buy amid continuous price rise and hold back amid price downturn" became prominent. Post-holiday stainless steel spot market trading volume warmed up notably, easing inventory buildup pressure to some extent. However, the core influencing factor lay on the supply side. Current stainless steel mill profitability remained favorable, and the production schedule pace stayed high. Recent steel mill arrivals were relatively concentrated, effectively alleviating the shortage of certain specifications that previously existed in the market. Arrivals exceeding trading volume became the dominant driver pushing stainless steel social inventory to stop falling and rebound this week. Overall, although SS futures strength drove a trading recovery this week, partially offsetting some inventory pressure, the concentrated release of arrivals still dominated the inventory trend. The current high production schedule pattern at steel mills remained unchanged, and subsequent arrival pressure persists. The sustainability of the downstream trading recovery still needs to be observed. In the short term, inventory is expected to maintain slight fluctuations, and subsequent focus should be on the direction of SS futures and the pace of steel mill arrivals...