According to the SMM survey, as of July 1, the operating rate of 50 electric furnace steel mills nationwide, which mainly produce building materials, was 31.86%, up 0.48% MoM from the previous period; the capacity utilization rate was 34.31%, up 0.51% MoM; and the daily average production of building materials was 76,400 mt, up 1,100 mt MoM.

Today, DCE Iron Ore futures market was in the doldrums, with the most-traded contract I2509 closing at 708.5, down 1.32% for the day. Traders' willingness to sell was moderate. Steel mills mainly purchased as needed, with inquiries being average. The market transaction atmosphere was also average.

[SMM Steel Mill Guidance Price] Guidance prices for various stainless steel series from large domestic steel mills on July 1st

[SMM Daily Stainless Steel Review: Market Digestion of Production Cuts News Complete, Weak Market Demand Drives Prices Down Again] SMM reported on July 1 that the overall SS futures market showed a weakening trend, with prices pulling back and even dropping below 12,500 yuan/mt during the session. In the spot market, as the futures market stopped rising and turned downward over the past two days, the news of production cuts by stainless steel mills earlier had been largely digested by the market. The weak downstream demand in the spot market became prominent again, leading to sluggish transactions and a slight drop in spot quotes. There was news at noon that steel mills had reduced the prices of 200-series stainless steel, but the price reduction did not significantly boost transactions, and the market remained sluggish. Despite the current low stainless steel prices and the continuous decline in planned production, the supply-demand imbalance had not been fundamentally reversed amid persistent weak demand, and it would still take time for market confidence to recover. In the futures market, the most-traded contract 2508 fell and pulled back. At 10:30 a.m., SS2508 was quoted at 12,520 yuan/mt, down 130 yuan/mt from the previous trading day. In the Wuxi region, the spot premiums/discounts for 304/2B stainless steel ranged from 250 to 450 yuan/mt. In the spot market, the cold-rolled 201/2B coils in Wuxi and Foshan were both quoted at 7,625 yuan/mt; the cold-rolled trimmed 304/2B coils had an average price of 12,700 yuan/mt in Wuxi and the same in Foshan; the cold-rolled 316L/2B coils were priced at 23,800 yuan/mt in Wuxi and the same in Foshan; the hot-rolled 316L/NO.1 coils were both quoted at 23,100 yuan/mt in the two regions; the cold-rolled 430/2B coils in Wuxi and Foshan were both...

[Domestic iron ore market brief: Prices of iron ore concentrates in Tangshan region may remain in the doldrums] Prices of iron ore concentrates in Tangshan region have remained relatively stable, with the delivery-to-factory price (dry basis, tax included) for 66% grade ore at 870-880 yuan/mt. The overall operation rate of mines and beneficiation plants remains low, exacerbating the resource shortage. Prices of local iron ore concentrates were concentrated downward earlier, but the cost-effectiveness of domestically produced iron ore concentrates has improved compared to the previous period.

[SMM Rebar Daily Review: Short-term construction steel prices may continue to fluctuate; follow-up attention can be paid to production restrictions in North China and policy meeting developments] Today, the futures market fluctuated, with prices slightly rising towards the end of the session, closing at 3,003, down 0.20% from the previous trading day. On the spot cargo side, most quotes dropped slightly, with declines of 10-20 yuan/mt, and overall trading performance was mediocre throughout the day.

According to SMM's tracking survey data, there were actually 6 new blast furnaces undergoing maintenance in June, resulting in a daily reduction of 28,800 mt of pig iron production. Meanwhile, 7 blast furnaces resumed production, leading to a daily increase of 35,300 mt in pig iron production. SMM survey data showed that blast furnace maintenance in June resulted in a net reduction of 4.7391 million mt in pig iron production, increasing slightly by 346,300 mt MoM from May. The daily average pig iron production at month-end in June decreased slightly by 2,100 mt compared to May. As of now, there are plans for 9 new blast furnaces to undergo maintenance in July, which will lead to a daily reduction of 44,700 mt in pig iron production. In contrast, there are plans for 4 blast furnaces to resume production, which will increase daily pig iron production by 22,000 mt. Based on existing data statistics, pig iron production in July is expected to pull back. According to SMM's daily average pig iron production estimate, the daily average pig iron production at month-end in July is expected to be around 2.41 million mt, showing a slight MoM decrease.