This week, ferrous metals first stabilized and then rose, with divergent trends among different varieties. Coking coal and coke continued to show the strongest performance, while rebar and iron ore were relatively weak. At the beginning of the week, stricter environmental and safety inspections in the Wuhai area of Inner Mongolia, coupled with intensified crackdowns on overproduction, led to production halts and cuts at some coal mines, pushing coking coal and coke prices upward. However, finished products struggled to keep up with the gains. In the latter half of the week, inventory data for the five major steel products showed continued destocking on a weekly basis, easing market concerns about inventory reduction. With the macro conference expected to conclude soon, market sentiment peaked on Thursday but cooled again as the weekend approached. In the spot market, as the September-October peak season drew to a close, end-users mainly purchased as needed, making it difficult to see large-scale concentrated procurement released...

Today, Minxin Steel updated its steel scrap purchase quotation. Friends with available stock are welcome to contact us!

The global copper scrap trade is entering a new cycle of restructuring. Over the past decade, the global trade network for copper scrap has been highly dependent on China. However, since China implemented the Solid Waste Import Ban in 2018, the global supply chain has been forced to reorganize, and a large volume of copper scrap has been redirected to Southeast Asian countries. By 2020, as Southeast Asian countries gradually tightened import controls, the global copper scrap market ongoing a “second phase of flow rebalancing.”

[SMM Tin Midday Review: SHFE Tin Fluctuates at Highs, Faces Directional Choice Amid Supply-Demand Tight Balance]

[SMM Tin Midday Review: Supply-Demand Tight Balance Contends with Macro Uncertainty, SHFE Tin Trades Under Pressure at High Levels]

This week, the secondary copper rod market struggled to operate under the dual pressures of volatile copper prices and policy uncertainty. Copper prices experienced significant fluctuations during the week, falling by 900 yuan/mt as of Thursday

This week, ferrous metals bottomed out after fluctuating downward, with coking coal and coke showing stronger performance than other varieties. At the beginning of the week, the market digested news that the US threatened to impose 100% tariffs on Chinese imports in November. The escalation of Sino-US trade tensions led to weak market sentiment, coupled with persistent supply-demand imbalances, causing finished product futures to fall to their lowest levels in nearly three months. In the latter part of the week, inventory data for the five major steel products showed a decline WoW compared to the first week after the holiday, although hot-rolled coil inventories continued to accumulate. Ferrous metals bottomed out, with hot-rolled coil underperforming other varieties. In the spot market, post-holiday procurement by end-users did not see a significant release, while some speculative demand purchased at low levels, though the volume was relatively small.

[SMM Tin Midday Review: SHFE Tin Edges Up 0.52% in Morning Session, LME Tin Prices Stabilize, Supply-Demand Tight Balance Supports High Volatility] On the morning of October 16, 2025, the most-traded SHFE tin contract price showed a pattern of fluctuating at highs. By the midday close, the most-traded SHFE tin contract settled at 281,490 yuan/mt, up 0.52%. Although the SHFE tin 2511 contract closed at 280,070 yuan/mt in the previous night session, down 0.12%, the intraday price demonstrated resilience, supported by the fundamental backdrop of a tight supply-demand balance. On the external market, tin prices on the London Metal Exchange (LME) showed signs of stabilization; overnight, LME tin futures rose by $204 to settle at $35,393/mt, up 0.54%, indicating that the external market was gradually finding support after consecutive adjustments.

[SMM Tin Futures Review: SHFE and LME Tin Prices Rebound in Sync, Sustained Supply-Side Constraints Provide Strong Support] On October 16, 2025, the price of the most-traded SHFE tin contract (SN2511) fluctuated at highs. During the night session, the contract opened slightly lower and closed at 280,070 yuan/mt, down 0.12% from the previous day. In daytime trading, the price hovered around the 280,000 yuan/mt mark, with market sentiment recovering slightly in the afternoon. It finally closed at 281,350 yuan/mt, posting a modest gain of 0.34%. In the spot market, spot trades were generally sluggish. Most downstream enterprises had completed stockpiling before the holiday, and high prices further dampened purchase willingness, with only a few companies making rigid replenishments based on orders. Traders reported generally limited transactions, and wait-and-see sentiment prevailed in the market.

[SMM Tin Midday Review: SHFE Tin Prices Fluctuate at Highs, Awaiting Macro Sentiment Shifts and LME Direction] On the midday of October 16, 2025, the most-traded SHFE tin contract price fluctuated at highs. Although the SHFE tin 2511 contract closed at 280,070 yuan/mt in the previous night session, down 0.12%, the intraday price showed resilience supported by a tight supply-demand balance. The midday session temporarily closed at 281,350 yuan/mt, up 0.34%. Meanwhile, LME tin prices showed signs of stabilization, with LME tin settling at $35,393/mt overnight, up $204 or 0.54%, indicating the external market was gradually finding support after consecutive adjustments.