The Second Round Of Coke Price Hike Looms Large

[SMM Stainless Steel Daily Review] Geopolitical Risks Eased, SS Futures Stopped Falling and Rebounded, Stainless Steel Spot Transactions Recovered SMM April 22 reported that SS futures showed a trend of stopping falling and rebounding. The US-Iran conflict cooled down, with the US announcing an indefinite ceasefire and Iran suspending military operations. Influenced by this, non-ferrous futures strengthened, and SS futures rose in tandem. As of the morning session close, the most-traded SS contract was quoted at 14,920 yuan/mt. Spot market side, although SS futures stopped falling today, futures prices had already pulled back from earlier levels. In addition, after stainless steel spot prices surged significantly, downstream acceptance was low and transactions were weak. However, traders held low-priced cargoes from earlier periods and had room to offer concessions, so spot quotes pulled back accordingly, with inquiries and transactions recovering somewhat. The most-traded SS contract stopped falling and strengthened. At 10:15 AM, SS2605 was quoted at 14,885 yuan/mt, down 15 yuan/mt from the previous trading day. Spot premiums for 304/2B in Wuxi ranged from 35-235 yuan/mt. In the spot market, the average price of cold-rolled 201/2B coils in Wuxi remained flat; for cold-rolled untrimmed 304/2B coils, the average price in Wuxi fell by 50 yuan/mt and in Foshan by 100 yuan/mt; cold-rolled 316L/2B coils in Wuxi held steady; hot-rolled 316L/NO.1 coils were quoted stable in Wuxi; cold-rolled 430/2B coils in both Wuxi and Foshan held steady. The current stainless steel market is in the traditional peak season of "Golden March and Silver April." Driven by futures, spot quotes strengthened somewhat, but cautious wait-and-see sentiment among downstream end-users persisted, with concerns over short-term price fluctuations and purchases yet to materialize...

[Molybdenum Concentrates Auction Information] SMM April 22: On April 22, a mine in Henan tendered 100 mt of molybdenum concentrates with a grade of 45%-50%. The auction transaction price was 4,655 yuan/mtu, with a tender floor price of 4,570 yuan/mtu, cash.

[Molybdenum Concentrates Bidding Information] SMM April 22: A large mine in Luoyang plans to sell 810 mt of 45%-55% molybdenum concentrates via online tender on April 23, with a base bidding price of 4,540 yuan/mtu (cash payment), up 110 yuan/mtu from the low bid price on April 8.