As of May 23, SMM data showed that the total inventory at 35 ports was 139.66 million mt, a decrease of 280,000 mt from before the holiday and a decrease of 350,000 mt WoW. The daily average port pick-up volume of imported ore was 3.019 million mt, a decrease of 129,000 mt from before the holiday. Recently, global shipments have been at a low level, with a slight overall decline in port arrivals. In terms of port cargo pick-up, steel mills intensified their restocking efforts before the holiday, but slowed down their procurement pace after the holiday, leading to a downward trend in port pick-up volume. As a result, the overall port inventory showed a slight decline.

Recently, Ansteel Iron & Steel Group Co., Ltd. stated in an investor relations activity that the company's iron ore concentrates purchases mainly come from Ansteel Group's own iron ore mines and imports, with the proportion of purchases from Ansteel Group's own iron ore mines being higher than that of imported iron ore.

All units of Bensteel Group's mining company seized the golden season for mine production, with all cadres and staff maintaining a diligent and determined work attitude, focusing on goals, prioritizing tasks, identifying problems, formulating measures, and promoting implementation. As a result, production and operation continued to improve. Efforts were made to ensure the implementation of various production and operation indicators in April.

Today, the DCE iron ore futures market fluctuated rangebound, with the most-traded contract I2509 eventually closing at 727, up 0.14% for the day. Traders showed moderate enthusiasm for selling, with some offering goods at lower prices; steel mills purchased as needed.

[SMM Steel Mill Guidance Price] Guidance prices for various series of domestic large stainless steel mills on May 22

[SMM Stainless Steel Daily Review: Persistent Supply-Demand Mismatch in Stainless Steel Market, Sluggish Trading Due to Insufficient Downstream Demand] SMM reported on May 22 that today, the SS futures market continued to exhibit a fluctuating trend. As the earlier favourable macro front gradually faded and the traditional peak consumption season neared its end, the purchasing demand released by downstream end-users due to stimulus policies had largely been met. Meanwhile, the overall production cuts in the stainless steel sector remained limited, with market supply remaining high and the availability of goods continuing to be loose, resulting in sluggish trading in the spot market. To alleviate the pressure of shipping goods, agents and traders adopted a strategy of offering minor concessions. Notably, stainless steel producers had previously adjusted their production structure by reducing capacity for 300 series stainless steel and increasing production for 200 series and 400 series stainless steel. However, the downstream demand structure had not changed accordingly. This led to a significant increase in the supply of 200 series stainless steel in the market, resulting in a sharp rise in sales pressure. Affected by this, Tsingshan Group lowered the plate price of 200 series stainless steel today, further reflecting the intensified supply-demand imbalance faced by this category. In the futures market, the most-traded contract 2507 fluctuated upward slightly. At 10:30 a.m., SS2507 was quoted at 12,875 yuan/mt, up 5 yuan/mt from the previous trading day. In the Wuxi region, the spot premiums/discounts for 304/2B stainless steel ranged from 345-595 yuan/mt. In the spot market, the cold-rolled 201/2B coils in Wuxi and Foshan were both quoted at 8,100 yuan/mt; the cold-rolled trimmed 304/2B coils had an average price of 13,175 yuan/mt in Wuxi and 13,175 yuan/mt in Foshan; the cold-rolled 316L/2B coils in the Wuxi region were quoted at 2...

[SMM Rebar Daily Review: Weak End-Use Demand, Construction Steel Prices Continue to Fluctuate Rangebound] Today, the futures market continued to operate in a volatile manner, closing at 3,061, down 0.03% from the previous trading day. On the spot cargo side, most market quotes remained stable, with only a few regions experiencing some easing in quotes, with declines of 10-20 yuan/mt. Trading performance throughout the day was average.

[Brief Review of Domestic Iron Ore Market: Iron Ore Concentrates Prices in Tangshan Region May Remain in the Doldrums] Driven by the price increase initiated by steel mills in some areas, the iron ore concentrates market in Tangshan region saw a price rise of 5 yuan/mt. Currently, the delivery-to-factory price (dry basis, tax included) of Fe66% iron ore concentrates stands at 935-940 yuan/mt. Currently, the purchasing pace of most steel mills in the Tangshan region is relatively slow.