[SMM Titanium Spot Market Update: Sponge Titanium Quotations Rise Amid Strong Downstream Wait-and-See Sentiment, Overall Market Remains Sluggish] On November 10, sponge titanium market prices remained generally stable, with mainstream quotations for Grade 0 at 46,000-48,000 yuan/mt. Downstream purchasing enthusiasm was generally weak. Yunnan Guoti announced a domestic selling price increase of 2,000 yuan/mt and an export quotation increase of $300/mt, making it one of the rare price hike moves in the market. However, downstream acceptance is currently limited, and other mainstream producers have not yet followed suit with price adjustments. Overall market transactions are sluggish, and sentiment remains cautious. In the short term, the sponge titanium market is expected to remain in the doldrums.

[SMM Chrome Daily Review: Supply Continued to Increase, Market in the Doldrums] November 10, 2025: The ex-factory price of high-carbon ferrochrome in Inner Mongolia today was 8,100-8,200 yuan/mt (50% metal content), flat MoM from the previous trading day.

[SMM Stainless Steel Daily Review: SS Futures Stop Falling and Rebound, Stainless Steel Market Sentiment Recovers and Inquiries Increase] SMM November 10 – SS futures showed a trend of stopping the decline and rebounding. Although SS futures continued their previous weakness in the morning, trading at low levels, they recovered in the afternoon driven by the strengthening and rebound of ferrous metals, coupled with the already low prices. By the close, they approached above 12,600 yuan/mt. In the spot market, traders' offers mostly held steady from the previous week in the morning, with relatively small changes. However, as SS futures climbed in the afternoon, market sentiment strengthened, inquiries increased, traders' willingness to offer discounts decreased, and quotes rose. Additionally, with prices already at low levels, intraday trading recovered somewhat. The most-traded SS futures contract stopped falling and rebounded. At 10:30 a.m., the SS2601 contract was quoted at 12,565 yuan/mt, up 15 yuan/mt from the previous trading day. In the Wuxi region, the spot premium/discount for 304/2B was in the range of 305-605 yuan/mt. In the spot market, the average price for cold-rolled 201/2B coil in Wuxi was 8,050 yuan/mt; the average price for cold-rolled mill-edge 304/2B coil was 12,850 yuan/mt in Wuxi and 12,850 yuan/mt in Foshan; the price for cold-rolled 316L/2B coil in Wuxi was 25,150 yuan/mt, and 25,200 yuan/mt in Foshan; the price for hot-rolled 316L/NO.1 coil in Wuxi was 24,550 yuan/mt; the price for cold-rolled 430/2B coil was 7,600 yuan/mt in both Wuxi and Foshan. The market has officially bid farewell to the "September-October peak season," a traditional consumption off-season, and entered the year-end off-season. The already insufficient confidence among downstream end-users...

[Domestic Iron Ore Brief: Iron Ore Concentrate Prices in Shandong May Edge Down] This week, Shandong miners offered 64-grade alkaline concentrates at 867 yuan/dry metric ton, excluding taxes, on a delivered acceptance basis, down 21 yuan. Steel mills' purchasing pace slowed slightly this week, but large mines saw no significant inventory accumulation. Steel mills are currently experiencing a notable contraction in profits, leading them to purchase iron ore concentrates primarily as needed. Overall market transactions weakened.