Today, iron ore futures continued to trade in the doldrums, with the most-traded contract I2601 closing at 771, down 0.19% from the previous day. Some traders halted sales, while steel mills exhibited stronger wait-and-see sentiment, resulting in limited inquiries. Market transaction activity remained sluggish.

According to the SMM survey, this week, the SMM broad-gauge inventory of HRC in Ningbo stood at 410,000 mt (as of October 15), up 6,000 mt WoW.This week, HRC prices were in the doldrums, with spot prices falling by 50-100 yuan/mt on a weekly basis. The market trading atmosphere remained moderate during the week, with end-users restocking on an as-needed basis. By the afternoon close on October 17, the most-traded HRC 2601 futures contract settled at 3,204 yuan/mt.

[SMM Stainless Steel Daily Review: SS Futures Recovered, Stainless Steel Spot Prices Attempted to Rise] SMM October 17: SS futures showed a relatively strong and rangebound fluctuation. Driven by the strength in SHFE nickel, SS futures recovered from previous lows and traded rangebound around 12,610 yuan/mt during the day. In the spot market, stainless steel spot prices strengthened in the afternoon of the previous day, driven by the rise in SS futures. Today's quotes basically continued the levels seen yesterday afternoon, with SS futures showing some recovery. Meanwhile, as prices have reached relatively low levels, market sentiment gradually recovered. This week, amid intensified China-US trade tensions and SS futures hitting bottom, market confidence was generally weak, and trading was sluggish. Additionally, prices for high-grade NPI and high-carbon ferrochrome both declined, leading to a loosening of cost support for stainless steel and an unexpected drop in spot prices. Social inventory increased significantly this week, up 5.19% WoW to 952,600 mt. However, current prices are approaching relatively low levels, and stainless steel costs are already in an inverted state. Coupled with market expectations that the US Fed will cut interest rates and halt balance sheet reduction, stainless steel prices are expected to avoid further significant declines. On the futures side, the most-traded contract 2512 showed relatively strong and rangebound fluctuations. At 10:30 a.m., SS2511 was quoted at 12,615 yuan/mt, up 90 yuan/mt from the previous trading day. In Wuxi, the spot premium/discount for 304/2B was in the range of 405-705 yuan/mt. In the spot market, Wuxi cold-rolled 201/2B...

[Domestic Iron Ore Brief: Iron Ore Concentrate Prices in Tangshan Expected to Fluctuate at Highs] Iron ore concentrate prices in Tangshan, Hebei have remained relatively stable in recent days, with ex-factory prices for 66% grade iron ore concentrates on a dry basis, including tax, at 920–925 yuan/mt. Supply remains tight, as local governments in Qian'an and Zunhua recently issued written documents regarding land use regulations for iron ore beneficiation enterprises, leading to the suspension and rectification of some non-compliant enterprises.

[SMM Stainless Steel Daily Review: Stainless Steel Futures Hit Bottom and Rebounded, Wait-and-See Sentiment Remained, Inquiries Increased but Transactions Were Insufficient] SMM October 16 - SS futures showed a trend of hitting bottom and rebounding. During yesterday's night session, dragged down by the pullback in SHFE nickel and ferrous metals, SS futures further hit bottom. By the morning session opening, it once fell below 12,500 yuan/mt. In the afternoon, driven by the halt in decline and strengthening of SHFE nickel, SS followed the rise. By the close, it rose to 12,615 yuan/mt. In the spot market, affected by the weakness in SS futures before noon, spot transactions were relatively sluggish, and offers further declined. In the afternoon, driven by the rebound in futures, market offers followed the rise, and inquiry activity increased. Currently, stainless steel prices have reached relatively low levels, and steel mills are already in a situation of cost-price inversion. However, market transactions are significantly disturbed by the fluctuations in futures, and downstream players still maintain a strong wait-and-see sentiment. This week, social inventory increased significantly, up 5.19% WoW, to 952,600 mt. In futures, the most-traded contract 2512 hit bottom and then rebounded strongly. At 10:30 a.m., SS2511 was quoted at 12,525 yuan/mt, down 40 yuan/mt from the previous trading day. In Wuxi, the spot premiums/discounts for 304/2B were in the range of 445-745 yuan/mt. In the spot market, the average price for Wuxi cold-rolled 201/2B coil was 8,000 yuan/mt; the average price for cold-rolled mill-edge 304/2B coil was 12,950 yuan/mt in Wuxi and 12,950 yuan/mt in Foshan; the price for cold-rolled 316L/2B coil in Wuxi was 25,500 yuan/mt, and 25,500 yuan/mt in Foshan...

Iron ore concentrate prices in the Tangshan area of Hebei have remained relatively stable in recent days, with ex-factory prices for 66% grade iron ore concentrates (dry basis, including tax) at 920-925 yuan/mt. Supply remains tight, as the local governments in Qian'an and Zunhua recently issued written documents regarding land use regulations for iron ore beneficiation enterprises