According to the SMM survey, as of June 18, the operating rate of blast furnaces at 242 steel mills surveyed by SMM was 87.70%, down 0.45 percentage point WoW.

[SMM Steel Mill Guidance Price] Guidance Prices for Different Series of Stainless Steel at Large Domestic Steel Mills on June 18

[SMM Stainless Steel Daily Review: Sluggish Stainless Steel Consumption Persists, Prices in the Doldrums] SMM reported on June 18 that today, although the SS futures market briefly held up well after the opening of the daytime session, it remained in a state of fluctuation at lows overall. Trading in the spot market remained sluggish, with traders generally lacking confidence in the market outlook. Some holders, under pressure to sell, occasionally offered low prices for certain specifications. Downstream buyers maintained a cautious wait-and-see attitude, focusing primarily on restocking based on immediate needs. Recently, prices of high-grade NPI and high-carbon ferrochrome have continued to decline, weakening the cost support for stainless steel. Consequently, the overall market continues to exhibit a weak performance. In the futures market, the most-traded 2508 contract weakened. At 10:30 a.m., SS2508 was quoted at 12,490 yuan/mt, down 10 yuan/mt from the previous trading day. In the Wuxi region, the spot premiums/discounts for 304/2B stainless steel ranged from 380 to 680 yuan/mt. In the spot market, the cold-rolled 201/2B coils in Wuxi and Foshan were both quoted at 7,750 yuan/mt; the cold-rolled trimmed 304/2B coils had an average price of 12,850 yuan/mt in Wuxi and the same in Foshan; the cold-rolled 316L/2B coils were priced at 24,000 yuan/mt in Wuxi and the same in Foshan; the hot-rolled 316L/NO.1 coils were quoted at 23,350 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 stainless steel market is mired in the traditional consumption off-season, with downstream demand remaining sluggish. Despite enterprises generally facing losses, some steel mills have implemented production cuts. However, due to the large production base in the early stage, current supply remains at...

Today, DCE iron ore futures fluctuated rangebound on the weaker side, with the most-traded contract I2509 closing at 695.5, down 0.5% for the day. Traders sold goods in line with market conditions, with some traders having abundant spot resources selling at lower prices. Steel mills purchased as needed, and the market transaction atmosphere was moderate.