During the survey period (June 10-17), the spot price of rebar fluctuated, with overall weak trading activity. Amid escalating geopolitical risks overseas, the futures market for industrial commodities experienced amplified volatility. However, there was no significant improvement in the fundamentals of the ferrous metals series. Market trading enthusiasm remained lackluster, with apparent rebar demand declining and electric furnace mills' profits continuously compressed. This week, three additional electric furnace mills halted production for maintenance, while two others shortened their operating hours. Overall, the national electric furnace operating rate this week was 30.98%, down 3.66% WoW.

Today, DCE iron ore futures pulled back from highs, with the most-traded contract I2509 closing at 699, down 0.07% for the day. Traders sold goods in line with market conditions, while steel mills adopted a wait-and-see attitude and purchased as needed. The market transaction atmosphere was average. The mainstream transaction prices of PB fines in Shandong were around 715 yuan/mt, down 5 yuan/mt from yesterday's prices. The transaction prices of PB fines in Tangshan were around 730 yuan/mt, down 5 yuan/mt from yesterday's prices.

[SMM Steel Mill Guidance Price] Guidance Prices for Different Series of Stainless Steel at Large Domestic Steel Mills on June 17

[Brief Review of Domestic Iron Ore Market: Iron Ore Concentrates Prices in Tangshan Region May Remain in the Doldrums] The market price of iron ore concentrates in the Tangshan region is relatively stable. Mines and beneficiation plants in the region have a strong reluctance to budge on prices. Recently, environmental protection supervision and mine safety inspections in the local area have hindered the operation of some beneficiation plants. Meanwhile, there is still pressure of losses in the beneficiation process, and there have already been many shutdowns for maintenance, so the actual impact on beneficiation production is limited.

[SMM Rebar Daily Review: Supply-Demand Imbalance Gradually Accumulates, Doldrums Market May Become Short-Term Main Trend] Today, rebar futures fluctuated rangebound, closing at 2,981, up 0.17% from the previous trading day. In terms of spot prices, spot rebar prices in most regions remained stable, with a small number of regions experiencing a price decline of 10 yuan/mt. The market sentiment was characterized by strong wait-and-see attitudes, and the overall trading performance for the day was weaker than that of the previous day.

[SMM Stainless Steel Daily Review: Stainless Steel Demand Remains Sluggish During Off-Season, Low Prices Fail to Boost Transactions] SMM reported on June 16 that today, the SS futures market was weakened by the decline in SHFE nickel prices, falling below the 12,500 yuan/mt threshold. Against the backdrop of continuously declining stainless steel prices, market confidence was shaken, with downstream players generally adopting a cautious wait-and-see attitude, focusing on just-in-time procurement in small quantities. As a result, spot market transactions remained sluggish. Recently, prices of both high-grade NPI and high-carbon ferrochrome have shown a downward trend, leading to weak cost support for stainless steel. Currently in the traditional off-season, market confidence in a consumption recovery is generally low. Despite stainless steel prices having fallen to low levels, the price reductions have not effectively stimulated transactions. Traders are expecting stainless steel mills to cut production to gradually restore the current supply-demand imbalance in the market. In the futures market, the most-traded 2508 contract weakened and declined. At 10:30 a.m., SS2508 was quoted at 12,500 yuan/mt, down 60 yuan/mt from the previous trading day. In the Wuxi region, the spot premiums/discounts for 304/2B stainless steel ranged from 370-670 yuan/mt. In the spot market, cold-rolled 201/2B coils in both Wuxi and Foshan were quoted at 7,750 yuan/mt; cold-rolled trimmed 304/2B coils had an average price of 12,850 yuan/mt in Wuxi and the same in Foshan; cold-rolled 316L/2B coils were priced at 24,000 yuan/mt in Wuxi and the same in Foshan; hot-rolled 316L/NO.1 coils were quoted at 23,350 yuan/mt in both regions; cold-rolled 430/2B coils were priced at 7,500 yuan/mt in both Wuxi and Foshan. Currently, the stainless steel market...

During the survey period (June 10 - June 16), the operating rate and capacity utilization rate of rebar rolling lines in the Central China region both declined; the weekly production of wire rod increased MoM.

According to the SMM survey, the impact from maintenance on construction steel decreased this week (6.14-6.20). There were more production resumptions and maintenance activities on construction steel rolling lines at steel mills last week and this week, resulting in an impact from maintenance on construction steel of 1.2615 million mt, a decrease of 57,500 mt WoW.