[SMM Commentary on SHFE Tin Futures: Off-season demand suppresses price elasticity; SHFE tin awaits substantive release of Myanmar ore] Closing price of the most-traded SHFE tin contract (SN2508): 263,960 yuan/mt, up slightly by 0.09%, with an intraday amplitude of 1.75% (261,510–266,150 yuan/mt). Daily line characteristics: Under pressure in the morning session, it rebounded slightly in the afternoon session supported by the low inventory of LME, but still remained under pressure at the key resistance level of 265,000 yuan/mt.

[SMM Daily Review: Chromium Market Operates Steadily, Awaiting Steel Tender Announcement] On July 16, 2025: Today, the ex-factory price of high-carbon ferrochrome in Inner Mongolia region is 7,800-7,900 yuan/mt (50% metal content), unchanged from the previous trading day...

[SMM Rebar Daily Review: The pattern of stable supply and weak demand continues, and construction steel prices may remain in the doldrums in the short term] Today, the futures market fluctuated downward, closing at 3,106, down 0.48% from the previous trading day. On the spot side, market quotes dropped slightly, with declines of 10-20 yuan/mt. In terms of transactions, futures prices rose slightly at the end of the trading day, driving the release of speculative demand in some regions, but overall trading performance was average.

[SMM Spot Magnesium Ingot Report: Sluggish Trading in Both Domestic and Foreign Markets, Magnesium Prices Drop Back Slightly] SMM reported on July 16 that today's magnesium ingot quotes in the Fugu area ranged from 16,150 to 16,250 yuan/mt, down 50 yuan from the previous trading day; China's FOB prices ranged from $2,240 to $2,300/mt, down $10. With weak demand in both domestic and foreign markets and sluggish trading, magnesium prices may remain in the doldrums in the short term.

[SMM Daily Coke and Coking Coal Briefing] Some steel mills in Hebei and Shandong accepted the first round of coke price hikes of 50-55 yuan/mt, effective from July 17. In terms of supply, the recent coke price hikes are awaiting implementation, and downstream buyers have shown high enthusiasm for purchasing, leading to a continuous pullback in coke inventories at coking enterprises. In terms of demand, hot metal production at steel mills has been fluctuating at highs recently, creating a rigid demand for coke. Additionally, steel mill profits are currently moderate, maintaining stable procurement of coke. In summary, coke costs are well supported, and downstream finished steel demand is recovering. Some steel mills are urging deliveries, and the fundamentals of coke continue to improve. In the short term, the coke market may continue to hold up well.

On the evening of July 15, Taijia Co., Ltd. (002843) announced that, based on the external environment and the company's actual situation, it would postpone the implementation of the "Cemented Carbide Band Saw Blade Production Line Construction Project" (with a planned investment of 112.1113 million yuan), the "High-Speed Steel Bimetal Band Saw Blade Production Line Construction Project" (with a planned investment of 122.805 million yuan), and the "New Energy Power Supply and ESS Production Site Project" (with a planned investment of 241.8379 million yuan). The dates for these projects to reach their predetermined usable states have all been postponed to September 20, 2026.

[Domestic iron ore market brief: Iron ore concentrate prices in Tangshan may rise slightly] Today, iron ore concentrate prices in Tangshan remained relatively stable, with the current delivery-to-factory price (dry basis, tax included) for 66% grade iron ore concentrates at 880-885 yuan/mt; The overall operating rate in the local area remains at a low level, and the overall supply of iron ore concentrates is relatively tight, providing some support for iron ore concentrate prices.

[SMM Tungsten Daily Review: Tungsten Market Holds Up Well, Ammonium Paratungstate Price Rises Rapidly to 260,000 yuan/mt] On July 16, the tungsten market maintained a strong upward trend. The supply of ore in the market was relatively tight, and suppliers held onto their stocks in anticipation of a price increase, leading to a continued rise in the center of spot order transactions. Downstream ammonium paratungstate producers faced significant cost pressure and were reluctant to sell at low prices, so they mainly followed the price increase in their quotations. Overall market transactions were moderate.