[SMM Steel Mill Guidance Price] Guidance Prices for Different Series of Stainless Steel at Large Domestic Steel Mills on June 12

Today, the Dalian Commodity Exchange iron ore futures market held up well, with the most-traded contract I2509 closing at 707, up 1% for the day. Traders showed good enthusiasm for selling, while steel mills adopted a cautious wait-and-see attitude, with most conducting tenders as usual. The market transaction sentiment was moderate. In Shandong, the mainstream transaction prices of PB fines were around 725-730 yuan/mt, rising slightly by 5-10 yuan/mt from yesterday's prices.

[SMM Stainless Steel Daily Review: Weak Demand Persists in Stainless Steel Off-Season, Limited Market Digestion Capacity Leads to Low Price Fluctuations] SMM reported on June 12 that today, the SS futures market oscillated around the 12,600 yuan/mt threshold. Despite stainless steel mills resuming price-limiting strategies, market prices have trended downward, with overall quotes remaining low. During the previous two days of volatile pricing, the market concentrated on closing deals at lower-priced cargoes. Today, with ultra-low-priced cargoes gradually disappearing, trading has returned to mediocre levels. Low prices during the week prompted traders to replenish stocks, driving social inventory to surge, once again approaching 1 million mt, adding significant pressure to the subsequent destocking of stainless steel inventory. In the futures market, the most-traded 2508 contract oscillated. At 10:30 a.m., SS2508 was quoted at 12,605 yuan/mt, up 100 yuan/mt from the previous trading day. In the Wuxi region, premiums and discounts for 304/2B spot cargoes ranged from 365-565 yuan/mt. In the spot market, cold-rolled 201/2B coils in both Wuxi and Foshan were quoted at 7,800 yuan/mt; cold-rolled trimmed 304/2B coils had an average price of 12,925 yuan/mt in Wuxi and the same in Foshan; cold-rolled 316L/2B coils were priced at 24,000 yuan/mt in Wuxi and the same in Foshan; hot-rolled 316L/NO.1 coils were quoted at 23,350 yuan/mt in both regions; cold-rolled 430/2B coils were priced at 7,500 yuan/mt in both Wuxi and Foshan. Currently, the stainless steel market is mired in the traditional consumption off-season, with sustained sluggish downstream demand. Despite enterprises generally facing losses, some steel mills have implemented...

[SMM Rebar Daily Review: Weak Supply and Demand, Insufficient Upward Momentum for Construction Steel Prices] Today, the futures market fluctuated downward, closing at 2,968, a decrease of 0.70% from the previous trading day. On the spot cargo side, most market quotes dropped slightly, with declines of 10-20 yuan/mt, and the overall trading performance was mediocre throughout the day.

[Brief Review of Domestic Iron Ore Market: Iron Ore Concentrates Prices Fluctuate Rangebound in Tangshan Region] The domestic ore market in the Tangshan region remained relatively stable overall, with the delivery-to-factory price of 66% grade dry-basis iron ore concentrates (tax included) ranging from 920 to 930 yuan/mt. The operational enthusiasm of local producers has not significantly improved, and there is still some resistance in beneficiation plant shipments. Currently, beneficiation plants are showing signs of divergence. Apart from long-term agreement orders, beneficiation plants with captive mines are exhibiting a strong wait-and-see sentiment.