[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.

[SMM Steel Mill Guidance Price] Guidance Prices for Different Series of Stainless Steel at Large Domestic Steel Mills on June 11

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.

[SMM Daily Review of Stainless Steel: Stainless Steel Mills Resume Price Limits, Low-Priced Supplies Decrease, Quotations Become More Concentrated] SMM reported on June 11 that today, the SS futures market showed a trend of stopping falling and rebounding, once again testing and returning to 12,600 yuan/mt. Yesterday, some agents and traders took advantage of the low prices to build positions and purchase goods, which, to a certain extent, alleviated the shipping pressure on stainless steel mills. This morning, stainless steel mills resumed their price limit operations. Despite the significant downward shift in the market's price center and the lack of obvious positive support, making it difficult for prices to rebound sharply, the resumption of price limits by steel mills, combined with the current low prices in recent years, has also faced resistance to further price declines. Some low-priced supplies have disappeared, and quotations have become more concentrated. In the futures market, the most-traded 2508 contract stopped falling and rebounded. At 10:30 a.m., SS2508 was quoted at 12,505 yuan/mt, down 40 yuan/mt from the previous trading day. In the Wuxi region, the spot premiums/discounts for 304/2B stainless steel ranged from 465-665 yuan/mt. In the spot market, the cold-rolled 201/2B coils in Wuxi and Foshan were both quoted at 7,800 yuan/mt; the cold-rolled trimmed 304/2B coils had an average price of 12,925 yuan/mt in Wuxi and 12,925 yuan/mt in Foshan; the cold-rolled 316L/2B coils were priced at 24,000 yuan/mt in Wuxi and 24,000 yuan/mt in Foshan; the hot-rolled 316L/NO.1 coils were quoted at 23,350 yuan/mt in both regions; the cold-rolled 430/2B coils were both priced at 7,500 yuan/mt in Wuxi and Foshan. Currently, the stainless steel market is mired in the traditional consumption off-season, with downstream demand remaining sluggish. Despite...

[SMM Rebar Daily Review: Favourable Macro Front Boosts Market Confidence, Can Steel Price Increase Continue?] Today, positive signals were released from the macro perspective. The agreement framework reached in principle during the China-US-London negotiations boosted market sentiment, and the futures market fluctuated upwards. On the spot side, most market quotes increased, with rises of 10-30 yuan/mt, and overall trading performance was average.

[Brief Review of Domestic Iron Ore Market: Iron Ore Concentrates Prices in West Liaoning May Have Room for Further Increase] The market transactions of domestic ore in west Liaoning are weak, with prices fluctuating slightly downward. The ex-factory price of 66-grade iron ore concentrates (wet basis, excluding tax) is 680-690 yuan/mt. The local ROM resources are scarce, with most mine resources supplied to their own beneficiation plants. It is difficult for local independent beneficiation plants to externally purchase ROM, and the procurement costs are relatively high. Coupled with the current weak market, a small number of producers have chosen to suspend production for maintenance due to low shipping profits.