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

[SMM Chrome Daily Review: Overseas Market Offers Lowered, Market Transactions Limited] June 10, 2026: The ferrochrome and chrome ore markets experienced slight fluctuations...

[SMM Stainless Steel Daily Review] Stainless Steel Futures Extend Pullback, Spot Market Confidence Weakens SMM, June 10. SS futures are trending lower and probing downside. Dragged further by the overall weakness in nonferrous metals futures, SS futures extended their pullback. As of the midday close, the most-traded SS contract was quoted at 14,410 yuan/mt. In the spot market, affected by the successive declines in SS futures, the support level that the market had originally pinned hopes on at 14,500 yuan/mt was broken, after which market confidence weakened significantly. Traders’ willingness to sell and destock increased notably, low-priced cargoes frequently emerged in the market, buying interest was clearly insufficient, and overall transactions remained mediocre during the day. The most-traded SS futures contract declined and pulled back. At 10:15 am, SS2607 was reported at 14,395 yuan/mt, down 75 yuan/mt from the previous trading day. Spot premiums for 304/2B in Wuxi were in the range of 575-1,225 yuan/mt. In the spot market, the average price for cold-rolled 201/2B coil in Wuxi was flat; for cold-rolled raw-edge 304/2B coil, the average price in Wuxi fell 50 yuan/mt and in Foshan fell 25 yuan/mt; the price of cold-rolled 316L/2B coil in Wuxi was unchanged; for hot-rolled 316L/NO.1 coil, the quotation in Wuxi fell 100 yuan/mt; cold-rolled 430/2B coil prices in both Wuxi and Foshan held steady. Stainless steel futures and spot experienced heightened volatility. The futures were first boosted then weighed down by macro news from outside China, and the off-season characteristics fully emerged. The industry holds vague expectations for the future market, with a strong wait-and-see sentiment. Transactions showed sporadic recoveries lacking sustainability, and selling pressure on traders mounted...