November 3 — The average spot price of EMM in the main producing areas was 13,900–14,100 yuan/mt, and the average export FOB price was $2,070–2,100/mt...

November 4 News: Northern ports: South African high-iron fines at 29.4-30.1 yuan/mtu, flat WoW; South African semi-caramel at 34.1-34.6 yuan/mtu, up 0.29% WoW; Gabonese fines at 39.6-40.4 yuan/mtu, flat WoW; Australian lumps at 39.9-40.4 yuan/mtu, flat WoW; South African medium-iron fines at 35.2-35.9 yuan/mtu, up 0.28% WoW. Southern ports: South African high-iron fines at 30.7-31.2 yuan/mtu, flat WoW; South African semi-caramel at 36.9-37.6 yuan/mtu, up 0.27% WoW; Gabonese fines at 40.5-40.1 yuan/mtu, flat WoW; Australian lumps at 40.1-40.8 yuan/mtu, flat WoW; South African medium-iron fines at 36.7-37.4 yuan/mtu, up 0.54% WoW.

[SMM Chromium Daily Review: Chromium Market Under Pressure, Transactions Yet to Recover] November 4, 2025: The ex-factory price of high-carbon ferrochrome in Inner Mongolia today was 8,150-8,200 yuan/mt (50% metal content), down 75 yuan/mt (50% metal content) MoM from the previous trading day.

[SMM Stainless Steel Daily Review: SS Futures Continued to Decline, Market Pessimism, Low Stainless Steel Prices Failed to Boost Transactions] SMM, November 4 – SS futures showed a downward trend. Today, ferrous metals and SHFE nickel futures weakened overall, and SS futures followed suit, approaching 12,500 yuan/mt during the session, with weak momentum persisting. In the spot market, the continuous decline in SS futures further intensified cautious wait-and-see sentiment in the downstream end-use market for stainless steel. Although stainless steel mills lifted price restrictions yesterday, leading to further declines in stainless steel offers, this failed to boost actual transactions, and market inquiries and deals remained weak. The most-traded SS2512 contract fell. At 10:30 a.m., SS2512 was quoted at 12,560 yuan/mt, down 65 yuan/mt from the previous trading day. In Wuxi, the spot premiums/discounts for 304/2B were in the range of 360-660 yuan/mt. In the spot market, the average price for cold-rolled 201/2B coil in Wuxi was 8,050 yuan/mt; for cold-rolled edged 304/2B coil, the average price in Wuxi was 12,900 yuan/mt, and in Foshan, 12,900 yuan/mt; for cold-rolled 316L/2B coil in Wuxi, 25,150 yuan/mt, and in Foshan, 25,200 yuan/mt; for hot-rolled 316L/NO.1 coil in Wuxi, 24,550 yuan/mt; for cold-rolled 430/2B coil in both Wuxi and Foshan, 7,600 yuan/mt. Although SS futures had been rising previously, their impact on the stainless steel spot market was relatively limited. The traditional peak consumption season for stainless steel, the September-October peak season, ended early, and downstream end-users...

[Domestic Iron Ore Brief: Iron Ore Concentrate Prices in Western Liaoning May Edge Down] Trading activity in the domestic ore market in western Liaoning is sluggish, but current prices remain relatively firm. The ex-factory price for 66% grade iron ore concentrates on a wet basis, excluding tax, stands at 740–750 yuan/mt. Spot resources are currently tight, with sellers holding firm on higher prices. Traders and steel mills are under no urgent pressure to restock and show weak purchase willingness at these price levels. Buyers and sellers are mainly adopting a cautious wait-and-see approach.

[SMM Coal and Coke Daily Briefing] In terms of news, most steel mills have accepted the third round of coke price increases, which is expected to take effect at midnight on November 5. Supply side, coke producers are experiencing smooth shipments, with low inventory levels at plants. Due to rising costs, coke producers have limited willingness to increase production, making it difficult to boost coke supply. Demand side, hot metal production from steel mill blast furnaces has not declined significantly, and some mills are seeing reduced coke inventories, leading to strong restocking demand for coke. Overall, the coke market fundamentals remain tight, coupled with strong cost support. In the short term, the coke market is expected to hold up well, and the third round of price increases is set to be implemented.