On October 22, the closing price of the DCE I2601 contract was 774 yuan/mt, up 0.65% from the previous trading day. Mainstream spot cargo at ports rose by 2–3 yuan from the previous working day, with transaction prices for PB fines in the Shandong region at 777–783 yuan, up 5 yuan/mt from yesterday;

[SMM Stainless Steel Daily Review: SS Futures Rise From Lows With Limited Boost to Spot Prices Remaining Low] SMM October 22 - SS futures showed a further strengthening and rising trend. Following the gains in ferrous metals, SS broke out of its previous weakness and continued to climb during the day, stabilizing above 12,700 yuan/mt. In the spot market, despite consecutive gains in SS futures boosting market confidence and increasing inquiries, spot offers and actual transactions failed to recover significantly. With nickel pig iron prices falling and downstream buyers remaining cautious in purchases, traders' offers continued to trend low. Futures side, the most-traded contract 2512 held up well. At 10:30 a.m., SS2511 was quoted at 12,710 yuan/mt, up 45 yuan/mt from the previous trading day. In Wuxi, the spot premium/discount for 304/2B was in the range of 310-610 yuan/mt. In the spot market, the average price for cold-rolled 201/2B coil in Wuxi was 8,000 yuan/mt; for cold-rolled trimmed 304/2B coil, the average price in Wuxi was 13,000 yuan/mt, and in Foshan 13,000 yuan/mt; for cold-rolled 316L/2B coil in Wuxi, 25,500 yuan/mt, and in Foshan 25,500 yuan/mt; for hot-rolled 316L/NO.1 coil, both locations reported 24,950 yuan/mt; for cold-rolled 430/2B coil, both Wuxi and Foshan reported 7,600 yuan/mt. Despite the traditional peak consumption season of "September-October peak season," stainless steel planned production for October increased further, expected to approach 3.45 million mt again. However, the recovery in downstream end-use demand has not reached...

[Domestic Iron Ore Brief: Iron Ore Concentrate Prices in West Liaoning Expected to Fluctuate at Highs] Today, the domestic ore market in some areas of west Liaoning remained relatively stable, with ex-factory prices for 66% grade iron ore concentrates on a wet basis, excluding tax, at 740–750 yuan/mt. The current tight supply of spot resources in the local market remains unchanged, with beneficiation plants holding firm on high offers. Some traders, aligning with steel mill pricing, slightly increased purchase prices. Steel mills are currently operating mostly in accordance with

According to the SMM survey, on October 15, the blast furnace operating rate of the 242 steel mills surveyed by SMM stood at 87.14%, down 0.15 percentage point WoW.

On October 21, the closing price of the 01 contract was 769.5 yuan/mt, up 0.13% from the previous trading day. Spot cargoes at ports showed relatively small fluctuations compared to the previous day, with transaction prices for PB fines in the Hebei region ranging between 784-784 yuan/mt, up 2 yuan/mt from yesterday;

According to the SMM survey, the impact from maintenance on construction steel increased slightly during the current period (10.18-10.24), as some steel mills switched production to other varieties and scheduled annual maintenance. The impact from maintenance on construction steel during this period reached 1.3002 million mt, up 12,000 mt WoW.

[SMM Stainless Steel Daily Review: SS Futures Slightly Recover, Testing 12,700 Yuan/mt; Stainless Steel Spot Enquiries Increase with Quotations Probing Higher] SMM, October 21 – SS futures showed a clear pattern of holding up well. Driven by the overall rise in metal futures, SS futures rose strongly during the day, once climbing to 12,700 yuan/mt. In the spot market, boosted by the strength in SS futures, enquiry activity recovered during the day, market confidence improved, and spot traders subsequently probed higher with their quotations. Although the market remained cautious about high prices, transactions improved with minor concessions. On the futures side, the most-traded contract, 2512, held up well. At 10:30 a.m., SS2511 was quoted at 12,665 yuan/mt, up 35 yuan/mt from the previous trading day. In the Wuxi area, the spot premium/discount for 304/2B was in the range of 355–655 yuan/mt. In the spot market, the average price for cold-rolled 201/2B coil in Wuxi was 8,000 yuan/mt; the average price for cold-rolled mill-edge 304/2B coil was 13,000 yuan/mt in both Wuxi and Foshan; the price for cold-rolled 316L/2B coil was 25,500 yuan/mt in both Wuxi and Foshan; the price for hot-rolled 316L/NO.1 coil was 24,950 yuan/mt in both locations; and the price for cold-rolled 430/2B coil was 7,600 yuan/mt in both Wuxi and Foshan. Despite the traditional peak consumption season of "September-October peak season," stainless steel planned production in October increased further and is expected to approach 3.45 million mt again. However, the recovery in downstream end-use demand...

[Domestic Iron Ore Brief: Iron Ore Concentrate Prices in Tangshan May Fluctuate Weakly and Steadily] Domestic ore prices in Tangshan remained generally stable, with Fe66% iron ore concentrates, dry basis, delivery-to-factory price, tax included, at 1,015-1,020 yuan/mt. As ore processing enterprises gradually suspend production, market trading is weak, and the local resource shortage situation has intensified. On the steel mill side, current hot metal production of steel mill blast furnaces remains at a relatively high level, providing support for iron ore concentrate demand.

[Yonggang Steel's October 2025, 3rd Phase Ordinary Steel Price Adjustment] Rebar and wire rod prices uniformly reduced by 50 yuan/mt