According to SMM shipping data, as of May 31, the total port departures from Chinese ports in May were 11.6071 million mt, a 6.52% MoM decrease from April. The main reason for the discrepancy with customs data may be the decrease in billet exports MoM in May. Considering that major export traders and steel mills often set annual export targets, even in adverse external conditions, there may be instances of volume discounts. Therefore, SMM expects that steel export volume in June will still maintain high growth YoY, but MoM data may face a slight decline risk after three consecutive months of exceeding 10 million mt. The uncertainty of steel exports in H2 will increase. 

Today, the DCE Iron Ore futures market opened with a strong upward trend but pulled back in the afternoon, after a doldrums session the day before yesterday. The most-traded contract I2509 eventually closed at 703, down 0.71% for the day. Traders sold goods in line with market conditions, while steel mills remained cautious and adopted a wait-and-see attitude, focusing on purchasing as needed.

[SMM Rebar Daily Review: Construction Disrupted by Plum Rains and High Temperatures, Short-Term Weakness in Construction Steel Market Unlikely to Change] Today, the futures market fluctuated, closing at 2,981, down 0.03% from the previous trading day. On the spot cargo side, most market quotes dropped slightly, with declines of 10-20 yuan/mt, and overall trading performance was weak throughout the day.

[SMM Steel Mill Guidance Price] Guidance prices for various series of domestic large stainless steel mills on June 9

[SMM Stainless Steel Daily Review: Sluggish Stainless Steel Transactions Amid Supply Surplus, Prices Fall Under Shipping Pressure] SMM reported on June 9 that today, the SS futures market continued its weak trend, with the daytime session opening below the 12,600 yuan/mt threshold. The spot market also performed sluggishly. After entering the consumption off-season, downstream purchase willingness remained persistently weak, with just-in-time procurement dominating. Despite an overall decline in stainless steel production in June, it still remained at historically high levels, and the market's loose supply situation remained unchanged. Affected by the continued sluggish transactions, multiple steel mills lowered their ex-factory prices in the afternoon, further driving down the overall prices in the stainless steel spot market. In the futures market, the most-traded contract 2507 was in the doldrums. At 10:30 a.m., SS2507 was quoted at 12,655 yuan/mt, down 45 yuan/mt from the previous trading day. The spot premiums and discounts for 304/2B stainless steel in the Wuxi region ranged from 465-665 yuan/mt. In the spot market, the cold-rolled 201/2B coils in Wuxi and Foshan were both quoted at 7,850 yuan/mt; the cold-rolled trimmed 304/2B coils had an average price of 13,050 yuan/mt in Wuxi and 13,050 yuan/mt in Foshan; the cold-rolled 316L/2B coils were priced at 24,050 yuan/mt in Wuxi and 24,050 yuan/mt in Foshan; the hot-rolled 316L/NO.1 coils were quoted at 23,350 yuan/mt in both regions; the cold-rolled 430/2B coils were both priced at 7,500 yuan/mt in Wuxi and Foshan. Currently, the stainless steel market has fully entered the traditional consumption off-season, with persistent weakness in downstream demand. Despite stainless steel enterprises generally facing losses, ...

[Brief Commentary on Domestic Iron Ore Market: Iron Ore Concentrates Prices in Shandong May Fluctuate Rangebound] In Shandong, the ex-mine price (dry basis, before tax, acceptance) of 64-grade alkaline iron ore concentrates from mines and beneficiation plants was reported at 797, down 7. Steelmakers have also lowered their prices in sync. Most miners are operating normally. Recently, some mines and beneficiation plants have launched sales promotions, leading to some improvement in local shipments. However, due to significant inventory accumulation in the early stage, the existing inventory has not been fully depleted yet. Shipments from small mills and traders have also improved somewhat.

[SMM Steel Mill Guidance Price] Guidance prices for various series of domestic large stainless steel mills on June 6

Overall, according to data from the General Administration of Customs, the total export volume of HRC from China to Brazil in the first four months of 2025 was only 211,000 mt, accounting for 2.70% of China's total HRC exports, with limited overall impact. Data from 2025 shows that the top five countries for China's HRC exports are Vietnam, Pakistan, Saudi Arabia, South Korea, and the UAE. Among them, Vietnam and South Korea have initiated anti-dumping investigations into China's HRC. Vietnam has already imposed provisional anti-dumping measures, and there have even been recent rumors that wide coils, which were previously excluded from the anti-dumping scope, may be added to the anti-dumping list again. On March 4 this year, South Korea officially announced the initiation of an anti-dumping investigation into China's HRC coils. Currently, China's HRC, the largest exported steel product, is facing an increasing number of anti-dumping investigations. Perhaps for export traders, exploring ways to increase the export volume of products that are not yet subject to anti-dumping measures could be a wise strategy.

Today, DCE iron ore futures market continued to exhibit a fluctuating trend, holding up well. The most-traded contract I2509 eventually closed at 707.5, with a daily increase of 0.86%. Traders showed moderate enthusiasm for selling, while steel mills adopted a cautious wait-and-see attitude, with purchase willingness weakening slightly as the weekend approached.