Today, the iron ore futures were in the doldrums, with the most-traded I2601 contract closing at 776.5, down 0.7% from yesterday's price. Traders sold goods according to market conditions; steel mills purchased as needed, with moderate inquiries.

[SS futures fluctuate rangebound, spot stainless steel prices stabilize due to lack of upward momentum] SMM reported on August 27 that SS futures showed a stable fluctuating trend. As macro news was gradually digested, the impetus for further gains in SS futures weakened, with prices oscillating around 12,850 yuan/mt during the day. In the spot market, although the peak September-October season is approaching and both nickel and chromium procurement prices have risen, SS futures remained steady. Spot transactions were moderate recently, but downstream acceptance of higher prices was limited, leading to stable quotes from spot traders and a lack of upward momentum. On the futures side, the most-traded 2510 contract fluctuated. At 10:30 am, SS2510 was quoted at 12,890 yuan/mt, up 30 yuan/mt from the previous trading day. The spot premiums and discounts for 304/2B in Wuxi ranged between 330-480 yuan/mt. In the spot market, Wuxi cold-rolled 201/2B coils were quoted at 8,100 yuan/mt; cold-rolled 304/2B coils, with an average price of 13,125 yuan/mt in Wuxi and 13,125 yuan/mt in Foshan; cold-rolled 316L/2B coils, 25,675 yuan/mt in Wuxi and 25,675 yuan/mt in Foshan; hot-rolled 316L/NO.1 coils, 25,100 yuan/mt in both regions; and cold-rolled 430/2B coils, 7,400 yuan/mt in both Wuxi and Foshan. Last week, SS futures continued to decline, erasing all gains made this month...

[Domestic Iron Ore Brief: Iron ore concentrates prices in west Liaoning may continue to fluctuate] The domestic ore market in west Liaoning is relatively sluggish. Currently, the ex-factory price of 66-grade iron ore concentrates on a wet basis without tax is 720-730 yuan/mt. Traders are cautious, and mines and beneficiation plants as a whole are holding firm on their asking prices, unwilling to sell at lower prices, leading to a slight standoff between buyers and sellers. On the demand side, steel mills are mostly operating according to plan with no maintenance plans.

Today, the iron ore futures were in the doldrums, with the most-traded I2601 contract closing at 776.5, down 0.7% from yesterday's price. Traders sold goods according to market conditions; steel mills purchased as needed, with moderate inquiries.

[SS Daily Review: SS Futures Rebound Boosts Stainless Steel Transactions and Quotations] SMM, August 26. The SS futures showed a stable fluctuating trend. After the US Fed made dovish remarks, expectations for an interest rate cut increased, leading to a generally strong performance in the commodities futures. SS futures also broke away from their previous weakness, mainly fluctuating around the 12,900 yuan/mt level during the day. In the spot market, influenced by the rebound in futures, sentiment for spot quotations improved, with increased market inquiry activity and better transaction conditions. Additionally, as the traditional September-October peak season approaches, and with Tsingshan's ferrochrome and ferronickel tender prices rising, market confidence is gradually recovering, and stainless steel prices are showing a stronger trend. On the futures side, the most-traded contract 2510 was in a fluctuating trend. At 10:30 am, SS2510 was quoted at 12,860 yuan/mt, up 30 yuan/mt from the previous trading day. In Wuxi, the spot premiums/discounts for 304/2B were in the range of 340-490 yuan/mt. In the spot market, Wuxi cold-rolled 201/2B coils were quoted at 8,100 yuan/mt; cold-rolled 304/2B coils (with edges) averaged 13,125 yuan/mt in Wuxi and 13,125 yuan/mt in Foshan; cold-rolled 316L/2B coils were 25,675 yuan/mt in Wuxi and 25,675 yuan/mt in Foshan; hot-rolled 316L/NO.1 coils were 25,100 yuan/mt in both locations; and cold-rolled 430/2B coils were 7,400 yuan/mt in both Wuxi and Foshan. Last week, SS futures continued to decline, completely erasing the gains made this month, and have basically returned...

[Domestic Iron Ore Brief: There May Be Some Room for Price Increase for Iron Ore Concentrates in Tangshan Area] The recent market for domestic ore in Tangshan has been relatively stable, with 66 grade dry basis tax-inclusive delivery-to-factory prices at 980-990 yuan/mt. Market supply and demand is sluggish. As environmental protection-related controls tighten, ore processing enterprises have suspended operations, and transportation has been hindered. More producers are on holiday, and only a few with rigid demand are making moderate transactions, leading to a sluggish market.

Last week, China's steel export prices fell by $3-10/mt. In the Thai market, there was a divergence in mainstream product categories; galvanizing prices first increased then decreased, with current CFR Thailand transaction prices at $630-635/mt. Wire rod prices, however, saw a higher increase due to better shipments of mainstream resources this month, leading to a slightly higher increase, with current CFR Thailand transaction prices at $530-535/mt. Local processing enterprises reported moderate transactions last week, mainly as downstream purchase willingness improved after prices followed a downward trend. So far this week, shipments have been flat, and a wait-and-see sentiment among end-users has resurfaced.