DCE iron ore futures were in the doldrums today. The most-traded contract I2601 closed at 790 yuan/mt, down 1.74% WoW. Traders showed moderate willingness to sell, while steel mills' wait-and-see sentiment intensified, with some mills restocking at low levels.

[SMM Stainless Steel Daily Review: "September-October Peak Season" Fails to Boost Demand, Stainless Steel Inventory Accumulates with Cost Support Weakening] SMM September 26 - SS futures showed a weakening and pullback trend. Affected by the overall weakness in the ferrous metals series, SS futures followed the decline, with prices approaching 12,800 yuan/mt during the session and finally closing at 12,840 yuan/mt. In the spot market, the continued doldrums in SS futures further dampened purchasing sentiment, extending the recent underperforming peak season. This week, stainless steel social inventory ended the previous 11-week destocking trend and shifted to inventory buildup. At the same time, nickel pig iron prices also softened, leading to generally weak market expectations for the future and further intensifying a cautious wait-and-see atmosphere. Pre-holiday purchasing demand for the National Day holiday did not materialize as expected. In futures, the most-traded contract 2511 traded in the doldrums. At 10:30 a.m., SS2511 was quoted at 12,840 yuan/mt, down 105 yuan/mt from the previous trading day. In Wuxi, spot premiums/discounts for 304/2B were in the range of 330-630 yuan/mt. In the spot market, the average price for cold-rolled 201/2B coil in Wuxi was reported at 8,100 yuan/mt; for cold-rolled mill edge 304/2B coil, the average price in Wuxi was 13,150 yuan/mt, and in Foshan, 13,150 yuan/mt; for cold-rolled 316L/2B coil in Wuxi, 25,650 yuan/mt, and in Foshan, 25,650 yuan/mt; for hot-rolled 316L/NO.1 coil, both locations reported 24,950 yuan/mt; for cold-rolled 430/2B coil, both Wuxi and Foshan reported 7,600 yuan/mt...

[Domestic Iron Ore Brief: Iron Ore Concentrate Prices in East Liaoning Expected to Remain in the Doldrums] Domestic ore prices in East Liaoning edged up by 10 yuan/mt. Local mine operations remain at persistently low levels, leading to tight spot cargo availability in the market. Coupled with steel mills' pre-National Day restocking expectations, sellers maintain a positive outlook, holding firm on high offers and showing reluctance to accept lower bids. However, steel mills, affected by weak sales of finished products,

[SMM Stainless Steel Daily Review: Underperforming Peak Season Persists, Destocking Ends with Inventory Accumulation] SMM September 25 - SS futures held up well. Prices remained strong throughout the day, though the gains were relatively limited, staying above 12,900 yuan/mt for most of the session. Spot market sentiment recovered somewhat, influenced by the firm performance of SS futures, with some traders raising their offers. However, actual transactions remained mediocre, mainly concentrated in low-priced cargo. As Typhoon Hagibis passed through, the Foshan area gradually returned to normal today. Social inventory ended an 11-week destocking trend this week, rising 1.32% WoW to 909,000 mt. Futures side, the most-traded 2511 contract was in the doldrums. At 10:30 a.m., SS2511 was quoted at 12,905 yuan/mt, up 20 yuan/mt from the previous trading day. In Wuxi, spot premiums/discounts for 304/2B were in the range of 315-615 yuan/mt. In the spot market, the average price for cold-rolled 201/2B coil in Wuxi was 8,050 yuan/mt; cold-rolled mill-edge 304/2B coil averaged 13,200 yuan/mt in both Wuxi and Foshan; cold-rolled 316L/2B coil was 25,650 yuan/mt in Wuxi and Foshan; hot-rolled 316L/NO.1 coil was quoted at 24,950 yuan/mt in both locations; cold-rolled 430/2B coil was 7,600 yuan/mt in Wuxi and Foshan. Despite the current September-October peak season...

DCE iron ore futures strengthened after an initial dip today, holding up well throughout the session. The most-traded contract I2601 finally closed at 805.5, up 0.25% from the previous working day. Traders showed moderate willingness to sell;

[Domestic Iron Ore Brief: Iron Ore Concentrate Prices in Tangshan May Edge Up] The domestic iron ore market in Tangshan remained generally stable, with ex-factory prices for 66% grade iron ore concentrates on a dry basis, including tax, ranging from 1,005 to 1,010 yuan per metric ton. Some producers showed improved purchasing enthusiasm, and large mines saw better tender results. However, market transactions remained relatively weak, with no significant increase in inquiries from producers. The tight supply situation for low-grade resources is expected to become more pronounced.