Today, the DCE Iron Ore futures fluctuated rangebound during the day, with the most-traded contract I2509 closing at 696, down 0.57% for the day. Some merchants showed moderate enthusiasm for shipping goods. As the weekend approached, the purchase willingness of steel mills weakened somewhat, with some steel mills conducting tenders based on demand.

[SMM Rebar Daily Review: Merchants Operate Cautiously, Market Trading Activity Declines] Today, rebar futures fluctuated downward, closing at 3,022, down 1.63% from the previous trading day. On the spot price side, the market sentiment was characterized by strong wait-and-see attitudes, and spot prices continued to decline. Prices in various regions fell by 10-30 yuan/mt, with overall market trading conditions remaining weak.

【Brief Review of Domestic Iron Ore Market: Iron Ore Concentrates Prices in West Liaoning May Remain in the Doldrums】Iron ore concentrates prices in west Liaoning are relatively stable, with the ex-factory price (66% grade, wet basis, tax excluded) at 700-710 yuan/mt. Currently, the production level of mines and beneficiation plants remains low, leading to a tight supply of iron ore concentrates and providing some support for local ore prices. Steel mills are mainly purchasing as needed, and their overall desire to bargain down prices remains strong.

[SMM Daily Review of Stainless Steel Spot Market: Weak Downstream Demand Restricts Price Increase Momentum] SMM reported on May 9 that stainless steel prices rose slightly this week. Affected by the expectations of domestic interest rate cuts and RRR cuts, as well as the Sino-US negotiations, market confidence has somewhat recovered, and spot prices have risen slightly, with some enterprises attempting to raise prices. After the Labour Day holiday, a brief period of concentrated restocking brought a small peak in transactions. However, as the effects of the policies remained unclear, downstream procurement returned to a cautious wait-and-see attitude, and market activity rapidly cooled. Meanwhile, the operating rate of stainless steel mills remained high, while the prices of raw materials such as nickel and chromium continued to weaken. Despite the current low prices of stainless steel, there is still a lack of effective upward momentum. In the futures market, the most-traded 2506 contract rose slightly and then pulled back. At 10:30 a.m., SS2506 was quoted at 12,710 yuan/mt, down 70 yuan/mt from the previous trading day. In the Wuxi region, the spot premiums/discounts for 304/2B stainless steel ranged from 410 to 610 yuan/mt. In the spot market, the cold-rolled 201/2B coils in Wuxi and Foshan were both quoted at 8,050 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 23,850 yuan/mt in Wuxi and 23,850 yuan/mt in Foshan; the hot-rolled 316L/NO.1 coils were quoted at 23,050 yuan/mt in both regions; and the cold-rolled 430/2B coils were both priced at 7,500 yuan/mt in Wuxi and Foshan. Currently, the supply side of the stainless steel market remains at highs. Facing the pressure of losses, producers are cutting back on severe losses by...

【Zhangpu Stainless Steel Plate Prices】Zhangpu stainless steel plate prices on May 9, 2025: Wuxi market - 304 HRC at 13,200, flat; cold-rolled at 14,000, flat; 316L HRC at 23,400, flat; cold-rolled at 24,100, flat; 321 HRC at 15,600, flat; cold-rolled at 16,700, flat. Foshan market - 304 cold-rolled at 14,300, flat; 316L cold-rolled at 24,300, flat. Hangzhou = Wuxi + 50.