[SMM Stainless Steel Spot Daily Review: Slowdown in US-China Tariffs Strengthens SS Futures Market, Eases Market Pessimism, and Shifts Spot Costs] SMM reported on May 12 that today, high-level economic and trade talks between China and the US reached a consensus, with the US temporarily lifting the hefty tariffs imposed on China earlier. This development drove up the SS futures market. Stainless steel spot prices had already shown signs of rising, and with the positive news from the China-US negotiations and the increase in stainless steel mills' listed prices, spot quotes strengthened and rose. Market pessimism has somewhat dissipated. Coupled with the fact that stainless steel spot prices were already at a low level, market transactions improved today. In the futures market, the most-traded contract completed its rollover to the 2507 contract today. At 10:30 a.m., SS2506 was quoted at 12,870 yuan/mt, up 160 yuan/mt from the previous trading day. In the Wuxi region, the spot premiums/discounts for 304/2B stainless steel ranged from 350-500 yuan/mt. In the spot market, cold-rolled 201/2B coils in both Wuxi and Foshan were quoted at 8,050 yuan/mt; cold-rolled trimmed 304/2B coils had an average price of 13,125 yuan/mt in Wuxi and 13,125 yuan/mt in Foshan; cold-rolled 316L/2B coils were priced at 23,850 yuan/mt in Wuxi and 23,850 yuan/mt in Foshan; hot-rolled 316L/NO.1 coils were quoted at 23,050 yuan/mt in both regions; and cold-rolled 430/2B coils were priced at 7,500 yuan/mt in both Wuxi and Foshan. Currently, significant adjustments are being made to US-China tariff policies: 91% of the tariffs imposed earlier will be lifted, and among the 34% reciprocal tariffs, a 24% portion will have a 90-day suspension on additional tariffs, with only...

Today, DCE iron ore futures surged significantly, with the most-traded contract I2509 closing at 718.5, up 3.16% for the day. Traders showed good enthusiasm for selling, and speculative transactions increased slightly. Steel mills remained cautious and adopted a wait-and-see attitude, purchasing as needed. The market transaction atmosphere was average.