[SMM Tin Futures Review: SHFE Tin Retreats After Rapid Rise Showing Weakness, Fluctuating at Highs Pattern to Continue]

[Domestic Iron Ore Brief: Iron Ore Concentrate Prices in Shandong May Edge Up] This week, the 64-grade alkaline iron ore concentrate in Shandong's mines and beneficiation plants was quoted at 887 (up 5) on a dry basis, pre-tax. Steelmakers raised their prices in sync. Most miners maintained normal production, selling as they produced, with little inventory accumulation. Some individual maintenance activities were still ongoing. Purchasing was primarily conducted as needed, while small plants and traders shipped goods according to market conditions.

[Continued Destocking in China, SHFE Zinc Center Rises]: The most-traded SHFE zinc 2602 contract opened at 23,160 yuan/mt. At the start of the session, bears reduced their positions, and SHFE zinc fluctuated upward, reaching a high of 23,470 yuan/mt, before retreating after a rapid rise. It finally closed up at 23,255 yuan/mt, an increase of 85 yuan/mt, or a gain of 0.37%. Trading volume rose to 243,000 lots, while open interest fell by 3,738 lots to 936.87 million lots.

[SMM Stainless Steel Daily Review] SS Upward Momentum Weak, Year-End Off-Season Stainless Steel Spot Trading Sluggish: SMM, December 29: SS futures were in the doldrums. SHFE nickel's upward momentum weakened, and SS futures followed suit. Although it briefly climbed above 13,000 yuan/mt before noon, it fell again in the afternoon, closing at 12,910 yuan/mt. Spot market, the momentum for further rises in SS futures has slowed down. Coupled with the fact that spot prices have already increased from previous levels, downstream demand remained sluggish amid the year-end off-season, and there was a lack of further stimulating factors from news. Spot prices overall maintained a stable trend, with subsequent attention on stainless steel mills' production cuts and downstream winter stockpiling. The most-traded SS futures contract was in the doldrums. At 10:30 a.m., SS2602 was quoted at 12,975 yuan/mt, up 50 yuan/mt from the previous trading day. In Wuxi, the spot premiums/discounts for 304/2B were in the range of 145-395 yuan/mt. In the spot market, the average price for Wuxi cold-rolled 201/2B coil was 8,200 yuan/mt; for cold-rolled mill edge 304/2B coil, the average price in Wuxi was 13,075 yuan/mt, and in Foshan was 13,075 yuan/mt; for cold-rolled 316L/2B coil in Wuxi, it was 24,150 yuan/mt, and in Foshan, 24,150 yuan/mt; for hot-rolled 316L/NO.1 coil in Wuxi, it was quoted at 23,250 yuan/mt; for cold-rolled 430/2B coil in both Wuxi and Foshan, it was 7,600 yuan/mt. This week, the main theme of stainless steel trading quickly shifted from "weak reality" to "expectations trading." In...