Today, the DCE iron ore futures fluctuated rangebound, with the most-traded contract I2509 closing at 710.5, down 0.49% for the day. Traders' willingness to sell was moderate; some steel mills were still in the process of restocking, showing relatively strong purchase willingness. The market transaction atmosphere was moderate.

Today, Dalian iron ore futures fluctuated rangebound, with the most-traded contract I2509 closing at 710.5, down 0.49% for the day. Traders' willingness to sell was moderate; some steel mills had not yet completed restocking, and their purchase willingness was good. The market trading atmosphere was moderate.

[Brief Review of Domestic Iron Ore Market: Iron Ore Concentrates Prices in Tangshan Region May Remain Stable] The iron ore concentrates market in Tangshan has been relatively stable recently. The dry-basis, tax-inclusive delivery-to-factory prices of 66-grade iron ore concentrates are 940-950 yuan/mt. As the holiday approaches, coupled with relatively small inventory pressure, mines and beneficiation plants are showing strong wait-and-see sentiment, and the shipping speed has slowed down. The current tight supply and demand situation in the market persists, and the operating rate of beneficiation plants remains low.

[SMM Rebar Daily Review: Will the Supply Pressure of Finished Steel Products Ease After the Holiday? What Will Be the Result of Market Competition?] Today, rebar futures fluctuated and closed at 3,129, up 0.61% from the previous trading day. In the spot market, quotes in some markets rose slightly, with increases of 10-30 yuan/mt. The futures market lacked sustained performance, and market sentiment weakened somewhat, with overall trading volume remaining average throughout the day.

[SMM Daily Review of Stainless Steel Spot Market: Sluggish Trading Before Labour Day Holiday, Stainless Steel Prices in the Doldrums] On April 28, SS futures started the day with a lower opening and rebounded during the daytime session. Affected by the reduction in stainless steel mills' plate prices last Friday, spot prices of stainless steel generally declined today. Despite the price pullback and the approaching Labour Day holiday, the trading atmosphere in the stainless steel market remained sluggish due to the persistent weakness in downstream demand, with no significant release of stockpiling demand before the holiday. In the futures market, the most-traded contract 2506 opened lower and rebounded. At 10:30 a.m., SS2506 was quoted at 12,745 yuan/mt, down 40 yuan/mt from the previous trading day. In the spot market, the average price of cold-rolled trimmed 304/2B coils was 13,100 yuan/mt in Wuxi and 13,150 yuan/mt in Foshan. Currently, stainless steel prices have reached a relatively low level, and stainless steel mills are also facing a situation where costs exceed selling prices, posing significant resistance to further price declines. However, due to the persistent weakness in downstream end-use demand, market participants generally maintain a cautious wait-and-see attitude, leading to continued sluggish trading in the market. Before the Labour Day holiday, it is difficult for the market to undergo significant changes, and stainless steel prices are expected to maintain a weak trend in the short term.

【SMM Steel Mill Guidance Price】Guidance prices for various series of domestic large stainless steel mills on April 28.