Imported Iron Ore Prices Rose Last Week, And May Hover At Highs This Week

[SMM Hot Rolled Coil Daily Transactions] On June 11, the total daily trading volume of hot-rolled coils among sample enterprises in SMM's four cities (Shanghai, Lecong, Tianjin, Ningbo) totaled 13,220 mt, down 1,030 mt day-on-day, or -7.9%, Gregorian YoY +0.92%, and lunar YoY -6.31%.

[SMM Analysis] Slight Stainless Steel Inventory Destocking Amid Weak Off-Season Demand and Proactive Clearing by Traders SMM, June 11 – This week, stainless steel social inventories extended the previous destocking trend, with total inventory pulling back slightly again. Total inventory in the two core markets of Wuxi and Foshan declined from 940,400 mt on June 4, 2026, to 932,900 mt on June 11, down 0.8% WoW. Under the off-season conditions, inventories continued to show a slight destocking trend. This week, macro headwinds outside China continued to intensify, and SS futures declined in successive sessions, dragging stainless steel spot prices down in tandem. Overall market pessimism deepened. On top of this, the industry formally entered the traditional consumption off-season. Wait-and-see sentiment among downstream end-users stayed high, actual just-in-time procurement was relatively weak, and overall transactions in the spot market remained sluggish. The demand side would have created inventory buildup pressure. However, the supply side and the circulation sector provided a strong offset, effectively neutralizing the inventory accumulation risk caused by weak off-season demand. On one hand, multiple stainless steel mills gradually implemented production cuts and maintenance during the month, leading to downward adjustments in production schedules. On the other hand, the persistent decline in futures heightened industry concerns about the near-term outlook. Traders widely held pessimistic expectations, and the market mainly operated with an approach of proactive selling and reducing their own inventories. Price concessions to clear inventory were common, accelerating the turnover of spot goods in the market. Amid the opposing tug-of-war between supply and demand, stainless steel social inventories pulled back slightly further this week. On the whole, weak just-in-time demand during the off-season and persistently sluggish transactions were potential bearish factors for inventory buildup, while the marginal supply contraction from steel mill maintenance and traders' concentrated proactive inventory clearing were the factors behind this week's ...

Le contrat HRC le plus échangé a fluctué à la baisse aujourd'hui, clôturant à 3 358, en baisse de 0,33 % sur un mois. Les tôles et plaques au comptant ont reculé de 10 à 20 yuans/tonne sur le mois, certains marchés restant stables. Côté offre, l'impact de la maintenance du laminage à chaud s'est atténué cette semaine, la production hebdomadaire a augmenté de 10 500 tonnes sur le mois, et la pression de l'offre reste sur une tendance haussière à court terme. Côté demande, le repli de fin de séance a pesé sur le sentiment, les utilisateurs finaux achetant à bas prix et la demande spéculative faiblissant. Côté coûts, le marché spot du charbon à coke et du coke est resté dans un équilibre offre-demande tendu. La sixième hausse des prix du coke a été appliquée, et les prix à terme sont en train de rattraper leurs pertes. Des rumeurs de marché évoquent une septième hausse le 12, et le soutien des coûts demeure. En résumé, d'après les données d'inventaire social de HRC, l'Est et le Sud de la Chine ont connu une accumulation mensuelle des stocks, tandis que le Nord-Est, le Nord et le Centre du pays ont enregistré un déstockage sur le mois. Aucun déséquilibre offre-demande flagrant n'est encore apparu, mais à mesure que la morte-saison s'accentue, les déséquilibres continueront de se creuser. Le marché devrait rester dans un canal à court terme. Continuez à surveiller les perturbations du côté des matières premières.