According to the SMM survey, the SMM Ningbo HRC broad-caliber inventory stood at 397,000 mt as of 10.22, down 13,000 mt WoW.HRC prices edged up this week, with the spot price rising 10-40 yuan/mt WoW. Trading activity in the market improved during the week. As of the afternoon close on 10.24, the most-traded HRC 2601 futures contract settled at 3,250 yuan/mt.

Today, iron ore futures prices experienced sideways weakness, with the main contract DCE I2601 closing at 771, down by 0.58% compared to yesterday. Port spot prices declined by 2-5 yuan from the previous trading day. In Shandong, PB powder transactions ranged between 775-780 yuan per ton, a decrease of 2-5 yuan/ton from yesterday.

[Domestic Iron Ore Brief: Iron Ore Concentrate Prices in West Liaoning Expected to Fluctuate] The domestic ore market in west Liaoning remains relatively stable. The ex-factory price for 66% grade iron ore concentrates on a wet basis, excluding tax, is 740-750 yuan/mt. Traders' inquiry enthusiasm is moderate, beneficiation plants face relatively small inventory pressure, and mines and beneficiation plants mostly maintain firm high offers. Local mines and beneficiation plants are currently operating normally as planned.

[SMM Stainless Steel Daily Review: SS Futures Rise Fails to Reverse Weak Fundamentals, Stainless Steel Spot Prices See Limited Gains] SMM Oct 24: SS futures continued their previous upward trend and strengthened further. Although ferrous metals futures weakened today, SHFE nickel surged significantly, pulling SS futures higher and keeping them above 12,800 yuan/mt with strong performance intraday. Spot market, boosted by the further rise in SS futures, saw some recovery in confidence and higher offers. However, downstream demand showed limited acceptance of the price increases, and transactions still relied on traders' discounts. Despite consecutive gains in futures prices this week, the boost to stainless steel spot prices was limited. Weak consumption confidence and fundamentals continued to weigh on the spot market, leaving little upward momentum for stainless steel spot prices. Social inventory dropped back slightly this week, down 0.65% WoW to 946,400 mt. Futures side, the most-traded contract 2512 held up well. At 10:30 am, SS2511 was quoted at 12,805 yuan/mt, up 120 yuan/mt from the previous trading day. In Wuxi, the spot premium/discount for 304/2B was in the range of 265-565 yuan/mt. In the spot market, the average price for Wuxi cold-rolled 201/2B coil was 8,000 yuan/mt; cold-rolled mill edge 304/2B coil averaged 13,050 yuan/mt in both Wuxi and Foshan; cold-rolled 316L/2B coil was 25,325 yuan/mt in Wuxi and Foshan; hot-rolled 316L/NO.1 coil...