Today, the iron ore futures were in the doldrums, with the most-traded I2601 contract closing at 776.5, down 0.7% from yesterday's price. Traders sold goods according to market conditions; steel mills purchased as needed, with moderate inquiries.

[SS Daily Review: SS Futures Rebound Boosts Stainless Steel Transactions and Quotations] SMM, August 26. The SS futures showed a stable fluctuating trend. After the US Fed made dovish remarks, expectations for an interest rate cut increased, leading to a generally strong performance in the commodities futures. SS futures also broke away from their previous weakness, mainly fluctuating around the 12,900 yuan/mt level during the day. In the spot market, influenced by the rebound in futures, sentiment for spot quotations improved, with increased market inquiry activity and better transaction conditions. Additionally, as the traditional September-October peak season approaches, and with Tsingshan's ferrochrome and ferronickel tender prices rising, market confidence is gradually recovering, and stainless steel prices are showing a stronger trend. On the futures side, the most-traded contract 2510 was in a fluctuating trend. At 10:30 am, SS2510 was quoted at 12,860 yuan/mt, up 30 yuan/mt from the previous trading day. In Wuxi, the spot premiums/discounts for 304/2B were in the range of 340-490 yuan/mt. In the spot market, Wuxi cold-rolled 201/2B coils were quoted at 8,100 yuan/mt; cold-rolled 304/2B coils (with edges) averaged 13,125 yuan/mt in Wuxi and 13,125 yuan/mt in Foshan; cold-rolled 316L/2B coils were 25,675 yuan/mt in Wuxi and 25,675 yuan/mt in Foshan; hot-rolled 316L/NO.1 coils were 25,100 yuan/mt in both locations; and cold-rolled 430/2B coils were 7,400 yuan/mt in both Wuxi and Foshan. Last week, SS futures continued to decline, completely erasing the gains made this month, and have basically returned...

[Domestic Iron Ore Brief: There May Be Some Room for Price Increase for Iron Ore Concentrates in Tangshan Area] The recent market for domestic ore in Tangshan has been relatively stable, with 66 grade dry basis tax-inclusive delivery-to-factory prices at 980-990 yuan/mt. Market supply and demand is sluggish. As environmental protection-related controls tighten, ore processing enterprises have suspended operations, and transportation has been hindered. More producers are on holiday, and only a few with rigid demand are making moderate transactions, leading to a sluggish market.

Last week, China's steel export prices fell by $3-10/mt. In the Thai market, there was a divergence in mainstream product categories; galvanizing prices first increased then decreased, with current CFR Thailand transaction prices at $630-635/mt. Wire rod prices, however, saw a higher increase due to better shipments of mainstream resources this month, leading to a slightly higher increase, with current CFR Thailand transaction prices at $530-535/mt. Local processing enterprises reported moderate transactions last week, mainly as downstream purchase willingness improved after prices followed a downward trend. So far this week, shipments have been flat, and a wait-and-see sentiment among end-users has resurfaced.

[SMMS Stainless Steel Daily Review: Macro Factors Drive SS Futures to Stop Falling and Rebound, Spot Stainless Steel Follows Suit] SMM reported on August 25 that the SS futures showed a trend of stopping the decline and rebounding. Influenced by the dovish expectations for the US Fed, the overall futures strengthened, with SS futures fluctuating upward during the day, reaching a high point above 12,900 yuan/mt. In the spot market, driven by the rebound in futures, the bullish sentiment in the spot market recovered, and traders' quotations strengthened again. With stronger expectations, inquiries were good during the day, and trading conditions also improved WoW. For futures, the most-traded contract 2510 fluctuated upward. At 10:30 am, SS2510 was quoted at 12,830 yuan/mt, up 85 yuan/mt from the previous trading day. The spot premiums/discounts for 304/2B in Wuxi ranged between 340-490 yuan/mt. In the spot market, 201/2B cold-rolled coils in Wuxi were quoted at 8,050 yuan/mt; 304/2B cold-rolled edge coils averaged 13,075 yuan/mt in Wuxi and 13,050 yuan/mt in Foshan; 316L/2B cold-rolled coils were 25,625 yuan/mt in both Wuxi and Foshan; 316L/NO.1 hot-rolled coils were 24,950 yuan/mt in both locations; 430/2B cold-rolled coils in both Wuxi and Foshan were 7,400 yuan/mt. Last week, SS futures continued to fall, completely erasing the gains made within the month, basically pulling back to the level at the end of July, with the low point even dropping to the key level of 12,700 yuan/mt. Affected by this, the spot market also weakened. Downstream...

Today, Dalian iron ore futures rose sharply, with the most-traded I2601 contract closing at 787, up 2.27% from last Friday. Traders' enthusiasm for quoting prices was moderate; steel mills were cautious and mainly purchasing as needed.