今连铁低开高走，全天偏强震荡运行，主力合约I2509最终收于733，全天涨幅0.14%。贸易商随行就市出货。钢厂按需采购。

[SMM Steel Mill Guidance Price] Guidance prices for various series of domestic large stainless steel mills on July 8

[SMM Daily Stainless Steel Review: Stainless Steel Market in a Stalemate, Spot Quotations Remain Stable] SMM reported on July 8 that the SS futures market strengthened again today, with the high point nearly reaching the 12,800 yuan/mt threshold. In the spot market, despite fluctuations in futures prices and a pull back in steel mills' guidance prices, retail quotations did not undergo significant adjustments and remained generally stable. Although transaction volumes improved compared to June, the extent of improvement was limited. The downstream market maintained a strong wait-and-see attitude, with transactions primarily relying on concessions from traders' early low-priced inventory. Today, the transaction price of high-grade NPI dropped again, with a stainless steel mill in South China concluding a deal for tens of thousands of mt at 900 yuan/mtu. Affected by expectations for production cuts at stainless steel mills, raw material prices continued to weaken, further eroding the cost support for stainless steel. In the futures market, the most-traded 2508 contract strengthened and rose. At 10:30 a.m., SS2508 was quoted at 12,715 yuan/mt, up 20 yuan/mt from the previous trading day. In the Wuxi region, the spot premiums/discounts for 304/2B stainless steel ranged from 105 to 255 yuan/mt. In the spot market, cold-rolled 201/2B coils in Wuxi and Foshan were both quoted at 7,600 yuan/mt; cold-rolled trimmed 304/2B coils had an average price of 12,725 yuan/mt in Wuxi and 12,725 yuan/mt in Foshan; cold-rolled 316L/2B coils were priced at 23,600 yuan/mt in Wuxi and 23,600 yuan/mt in Foshan; hot-rolled 316L/NO.1 coils were quoted at 22,900 yuan/mt in both regions; cold-rolled 430/2B coils in Wuxi and Foshan were both priced at 710...

Overall, according to data from the General Administration of Customs, the total exports of the involved products from China to Malaysia in the first five months of 2025 were only 54,200 mt, accounting for less than 1% of China's total exports of the involved products, with a relatively small overall impact. This is not on the same scale as the total exports of the involved products in China. In extreme cases, this may lead to a decrease of 54,300 mt in China's total exports YoY in 2026. SMM will track in real time the progress and impact of overseas anti-dumping investigations on steel. Please stay tuned for relevant reports. For more information, follow SMM's official account~

[SMM Rebar Daily Review: Mediocre Construction Steel Trading, Short-Term Prices More Likely to Fall Than Rise] Today, the futures market fluctuated rangebound, closing at 3,063, down 0.13% from the previous trading day. On the spot side, most market quotes dropped slightly in the morning, with declines of 10-20 yuan/mt. The trading atmosphere improved slightly. In the afternoon, rebar futures fluctuated rangebound, and spot prices rebounded slightly. The average price for the day was largely stable, with market trading performance being average.

[Brief Comment on Domestic Iron Ore Market: Prices of Iron Ore Concentrates in Tangshan Region May Have Some Room for Upside] At the beginning of the week, the domestic ore market in Tangshan was generally stable, with local delivery-to-factory prices for 66% grade dry-basis iron ore concentrates (tax included) ranging from 870 to 880 yuan/mt. Recently, some resources from Shandong have flowed into Hebei, driving an improvement in the outflow of resources. Considering the recent uptick in raw material prices and high costs, local concentrators have maintained firm asking prices. Amidst a stalemate in supply and demand, transactions have slowed down.

Today, Dalian iron ore futures pulled back from highs and traded in the doldrums throughout the day. The most-traded contract I2509 eventually closed at 731, with a daily decline of 0.68%. Traders sold goods according to market conditions. Steel mills adopted a wait-and-see attitude cautiously, with weak purchase willingness. The market transaction atmosphere was average.