China Railway No.10 and Leone Rock Metals signed iron ore mine phase II mining project contract

[SMM Coking Coal and Coke Daily Brief] Supply side, coke enterprises maintained stable coke production, with relatively smooth shipments and their own coke inventory remaining at low levels. Demand side, steel mill operating rates stayed high, and daily average hot metal output is still expected to increase going forward. Rigid demand for coke showed an increasing trend. However, recent continuous declines in ferrous futures, narrowing steel profitability, and the steel market already being in the consumption off-season suppressed coke demand. Meanwhile, most steel mills' coke inventory was at reasonable levels, leading to low willingness to accept coke price hikes. In summary, the standoff between steel and coke enterprises will continue, and the coke market may remain temporarily stable next week.

The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on 22 May , 2026

[SMM Stainless Steel Daily Review] SS Futures Fluctuated Downward, Stainless Steel Spot Prices Held Steady SMM, May 22: SS futures were in the doldrums. The new US Fed chairman officially took office today, and combined with the continued release of hawkish remarks from the US Fed recently, non-ferrous metal futures weakened overall today. SS also pulled back slightly following the trend. As of the close, the most-traded SS contract was quoted at 14,745 yuan/mt. On the spot market side, although SS futures were weak, the overall decline was limited. Spot prices mostly remained stable, with end-users mainly making just-in-time procurement, and intraday transactions were steady. The most-traded SS futures contract pulled back. At 10:15 AM, SS2605 was quoted at 14,800 yuan/mt, down 30 yuan/mt from the previous trading day. Spot premiums for 304/2B in the Wuxi area were in the range of 370-770 yuan/mt. In the spot market, the average price of cold-rolled 201/2B coils in Wuxi held steady; for cold-rolled trimmed-edge 304/2B coils, Wuxi held steady, and the average price in Foshan held steady; cold-rolled 316L/2B coils in Wuxi held steady; hot-rolled 316L/NO.1 coils were quoted steady in Wuxi; cold-rolled 430/2B coils in both Wuxi and Foshan held steady. This week, the stainless steel market saw both futures and spot prices fluctuate steadily. Futures movements were mainly driven by industry news expectations, with limited overall fluctuations. Market sentiment was divided—traders held a weak sentiment, but end-user just-in-time procurement remained resilient. Combined with active shipments from traders, market supply continued to be depleted, presenting an overall pattern of news providing a floor, rigid demand offering support, and fundamentals under pressure. On the futures side, this week SS...