[SMM Stainless Steel Daily Review: SS Futures Rise From Lows With Limited Boost to Spot Prices Remaining Low] SMM October 22 - SS futures showed a further strengthening and rising trend. Following the gains in ferrous metals, SS broke out of its previous weakness and continued to climb during the day, stabilizing above 12,700 yuan/mt. In the spot market, despite consecutive gains in SS futures boosting market confidence and increasing inquiries, spot offers and actual transactions failed to recover significantly. With nickel pig iron prices falling and downstream buyers remaining cautious in purchases, traders' offers continued to trend low. Futures side, the most-traded contract 2512 held up well. At 10:30 a.m., SS2511 was quoted at 12,710 yuan/mt, up 45 yuan/mt from the previous trading day. In Wuxi, the spot premium/discount for 304/2B was in the range of 310-610 yuan/mt. In the spot market, the average price for cold-rolled 201/2B coil in Wuxi was 8,000 yuan/mt; for cold-rolled trimmed 304/2B coil, the average price in Wuxi was 13,000 yuan/mt, and in Foshan 13,000 yuan/mt; for cold-rolled 316L/2B coil in Wuxi, 25,500 yuan/mt, and in Foshan 25,500 yuan/mt; for hot-rolled 316L/NO.1 coil, both locations reported 24,950 yuan/mt; for cold-rolled 430/2B coil, both Wuxi and Foshan reported 7,600 yuan/mt. Despite the traditional peak consumption season of "September-October peak season," stainless steel planned production for October increased further, expected to approach 3.45 million mt again. However, the recovery in downstream end-use demand has not reached...

[Domestic Iron Ore Brief: Iron Ore Concentrate Prices in West Liaoning Expected to Fluctuate at Highs] Today, the domestic ore market in some areas of west Liaoning remained relatively stable, with ex-factory prices for 66% grade iron ore concentrates on a wet basis, excluding tax, at 740–750 yuan/mt. The current tight supply of spot resources in the local market remains unchanged, with beneficiation plants holding firm on high offers. Some traders, aligning with steel mill pricing, slightly increased purchase prices. Steel mills are currently operating mostly in accordance with

[Fundamentals Weigh on Zinc Prices, SHFE Zinc Struggles to Rise]: The most-traded SHFE zinc 2512 contract opened at 21,955 yuan/mt, dipped to 21,940 yuan/mt early in the session, then fluctuated throughout the day, hitting a high of 22,030 yuan/mt before finally closing up at 22,000 yuan/mt, an increase of 20 yuan/mt, or 0.09%.

[SMM Coal and Coke Daily Briefing] Supply side, coke producers maintained stable operations with active shipments, keeping coke inventories at low levels. However, declining profit per metric ton of coke has led some producers to voluntarily cut production. Demand side, transportation disruptions at some steel mills in Tangshan have hampered coke deliveries. While daily average hot metal output remains at a relatively high level, sustaining rigid coke demand, finished steel inventory continues to face pressure amid weaker steel prices. Steel mills have shown resistance to the coke price hike. Overall, the coke market is expected to hold up well in the short term, generally stable with a slight rise.

[SMM Shanghai Spot Copper] Looking ahead to tomorrow, SHFE copper spot premiums are expected to continue weakening, but the discount will be limited. During the morning trading session, the price spread between futures contracts narrowed, with arbitrageurs slightly reducing premiums to secure profits. If copper prices stabilize tomorrow, premiums are not expected to fluctuate significantly.