[SS FUTURES FALL BACK TO 12,800 YUAN/MT, STAINLESS STEEL SPOT PRICES DROP DUE TO WEAK DEMAND] SMM reported on August 20th, SS futures showed a further pullback. Today, influenced by the US adding 407 types of steel and aluminum derivative products to its tariff list, futures generally declined, dragging SS futures prices down, breaking below the 12,800 yuan/mt level, before slightly rebounding and stabilizing above 12,800 yuan/mt by the close. In the spot market, the decline in SS futures weakened market confidence, leading traders to slightly lower their quotes in an attempt to boost transactions. However, with the futures market falling, downstream end-users became more cautious, adopting a wait-and-see sentiment, making purchases more hesitant. In the futures market, the most-traded contract 2510 was in the doldrums. At 10:30 AM, SS2510 was quoted at 12,810 yuan/mt, down 100 yuan/mt from the previous trading day. In Wuxi, the spot premiums and discounts for 304/2B stainless steel were in the 310-510 yuan/mt range. In the spot market, Wuxi cold-rolled 201/2B coils were all quoted at 8,050 yuan/mt; cold-rolled 304/2B coils with trimmed edges, averaged 13,050 yuan/mt in Wuxi and 13,050 yuan/mt in Foshan; cold-rolled 316L/2B coils were 25,475 yuan/mt in both Wuxi and Foshan; hot-rolled 316L/NO.1 coils were 24,900 yuan/mt in both locations; cold-rolled 430/2B coils in Wuxi and Foshan were 7,350 yuan/mt each. Recently, social inventory of stainless steel has been declining...

Today, the most-traded iron ore futures contract I2601 continued to be in the doldrums, closing at 769, down 0.19% from yesterday. Traders showed a moderate willingness to sell; steel mills purchased as needed, with few inquiries. The market transaction atmosphere was average. Due to the extended vehicle control period, some steel mills have increased their transportation of materials from ports to their premises.

[Domestic Iron Ore Brief: Prices of Domestic Iron Ore in West Liaoning May Have Some Room for Upward Exploration] The supply and demand in the domestic ore market in west Liaoning is slightly stagnant. Currently, the ex-factory price of 66 grade iron ore concentrates on a wet basis without tax is 720-730 yuan/mt. Traders, considering their own profits and without orders from steel mills, are observing the market trend; in addition, mine and beneficiation plants in some areas of Hebei have successively received notices of production restrictions and suspensions, leading to a reduction in supply.

As of August 19, the operating rate for 50 major rebar-producing electric furnace steel mills nationwide was 39.9%, flat WoW; the capacity utilization rate was 40.63%, also flat WoW; daily average production of rebar was 90,500 mt, flat WoW.

[SS Futures Drop Below 12,900 Yuan/mt, Spot Stainless Steel Prices Fall Amid Weak Trading] SMM August 19th report, the SS futures showed a weakening and pullback trend. Today, SS futures prices fell sharply, dropping from around 13,000 yuan/mt to below 12,900 yuan/mt. In the spot market, the reluctance to budge on prices among traders weakened due to the significant decline in SS futures. With sluggish trading persisting and month-end delivery pressures mounting, offers softened, pulling back slightly. However, under the sentiment of rushing to buy amid continuous price rise and holding back amid price downturn, downstream wait-and-see sentiment intensified, leading to even more sluggish trading. On the futures side, the most-traded contract 2510 was in the doldrums. At 10:30 am, SS2510 was quoted at 12,910 yuan/mt, down 115 yuan/mt from the previous trading day. The spot premiums/discounts for 304/2B in Wuxi were in the range of 260-410 yuan/mt. In the spot market, cold-rolled 201/2B coils in both Wuxi and Foshan were quoted at 8,050 yuan/mt; cold-rolled 304/2B coils with trimmed edges, averaged 13,075 yuan/mt in Wuxi and 13,075 yuan/mt in Foshan; cold-rolled 316L/2B coils were 25,275 yuan/mt in Wuxi and 25,275 yuan/mt in Foshan; hot-rolled 316L/NO.1 coils were 24,750 yuan/mt in both regions; cold-rolled 430/2B coils in Wuxi and Foshan were both 7,350 yuan/mt. Recently, social inventory of stainless steel has been declining continuously, and ongoing macro policy news has provided some support...

Today, the most-traded iron ore futures contract fluctuated rangebound, with the I2601 contract closing at 771, down 0.64% from yesterday. Traders sold according to market conditions, and some traders showed a strong willingness to sell; due to month-end production restrictions, steel mills in north China had weak purchase willingness.

[Domestic Iron Ore Brief: Iron Ore Concentrates Prices in Tangshan Area May Remain Volatile] At the beginning of the week, iron ore concentrates in the Tangshan area decreased slightly by 5-10 yuan, with current 66 grade iron ore concentrates at 980-990 yuan/mt; According to SMM, since August 20, the ministry's supervision and assistance team and the provincial department's assistance team have been stationed in Tangshan, to ensure the production control of related enterprises