[Domestic Iron Ore Brief: Iron Ore Concentrate Prices in Shandong May Remain in the Doldrums] In Shandong, the pre-tax, dry basis, acceptance-paid ex-mine price for 64-grade alkaline iron ore concentrates was reported at 873 yuan, up 19 yuan. Miners are operating normally, with steel mills in both local and Hebei regions showing strong purchasing enthusiasm. Long-term contract shipments remain stable, and the overall market transaction atmosphere is moderate. Although the National Day holiday is approaching, steel mills have not intensified their overall restocking pace.

[SMM Daily Coking Coal and Coke Briefing] On the news side, mainstream steel mills in Hebei and Shandong implemented the second round of coke price cuts, with a reduction of 50-55 yuan/mt, effective at 00:00 on September 15, 2025. In terms of supply, coking plants still maintain certain profits, and most of them have high production enthusiasm, leading to an increase in coke supply. However, the pace of shipments from coking plants has slowed down, resulting in inventory accumulation. On the demand side, steel mills have gradually resumed production, and hot metal output has rebounded rapidly, creating rigid demand for coke. Nevertheless, current coke inventories at steel mills are relatively sufficient, and coupled with the underperformance of the finished steel market, steel mills still have a desire to bargain down coke prices. In summary, the supply-demand imbalance for coke is accumulating, and the coke market may remain in the doldrums in the short term.

[SMM Shanghai Spot Copper] Looking ahead to tomorrow, there are currently a large number of warrants in Guangdong and Jiangsu, while Shanghai continues to see replenishment of imported copper, but domestic warrants and spot cargo are limited. Spot premiums are expected to be offered high but trade low.

[SMM Daily Review: High-Grade NPI Prices Face Resistance to Rise but Remain Firm Amid Peak Season] September 15 (SMM) - The average price of SMM 10-12% high-grade NPI was 954 yuan/mtu (ex-factory, tax included), up 0.5 yuan/mtu from the previous working day.

[SMM Tin Midday Review: SHFE Tin Fluctuates at Highs Awaiting Fed Decision, Weak Supply and Demand Limits Price Volatility] On the morning of September 15, 2025, the most-traded SHFE tin 2510 contract opened at 273,880 yuan/mt and showed a rangebound fluctuating trend at highs. By the midday close, the price hovered around 274,000 yuan/mt, rising slightly compared to the previous trading day's settlement price. The overall market trading atmosphere remained cautious, with trading volume failing to expand significantly.

Spot prices of #1 copper cathode in North China against the front-month contract were at a discount of 190-150 yuan/mt today, with an average discount of 170 yuan/mt, down 10 yuan/mt from the previous trading day. Transaction prices ranged from 80,560 to 80,820 yuan/mt, with an average of 80,690 yuan/mt, up 180 yuan/mt from the previous trading day.