China Launches Anti-Discrimination Probe into US IC Measures

[SMM Stainless Steel Daily Review] SS Futures Strengthened, Stainless Steel Spot Market Ran Steadily SMM, April 10: SS futures strengthened and rose. SS futures extended the mid-week rally and further explored upward. As of the morning close, the most-traded contract was reported at 14,495 yuan/mt. Spot market side, despite SS futures exploring higher, the spot market remained stable. In addition, a major stainless steel producer released its guidance price today, which held steady MoM. Although intraday inquiry activity picked up somewhat and some low-priced resources decreased, actual transactions remained limited, and upward momentum for prices was insufficient. The most-traded SS futures contract strengthened and rose. At 10:15 AM, SS2605 was reported at 14,470 yuan/mt, up 180 yuan/mt from the previous trading day. Spot premiums for 304/2B in the Wuxi area ranged from 50-250 yuan/mt. In the spot market, the average price of cold-rolled 201/2B coils in Wuxi held steady; for cold-rolled trimmed-edge 304/2B coils, the Wuxi average price rose by 50 yuan/mt while the Foshan average price held steady; cold-rolled 316L/2B coils in the Wuxi area held steady; for hot-rolled 316L/NO.1 coils, Wuxi quotes remained flat; cold-rolled 430/2B coils in both Wuxi and Foshan held steady. The stainless steel market was currently in the traditional peak season of "Golden March and Silver April." In the short term, macro tailwinds helped restore confidence, and spot inquiry activity picked up. However, cautious sentiment among downstream end-users persisted, with procurement still driven by rigid demand. Acceptance of high-priced resources remained poor, and transactions relied on low-priced resources, with no significant volume increase overall. Futures side, the US-Iran conflict de-escalated this week, with both sides reaching a two-week ceasefire agreement and initiating negotiations. Macro...

The planned rebar production in April was 8.0385 million mt, an increase of 103,500 mt or 1.30% from the actual production in March. The planned wire rod production in April was 2.9614 million mt, a decrease of 128,700 mt or 4.16% from the actual production in March. In April, the long product export scheduled production of sample steel mills was 791,000 mt, up 79,000 mt MoM, of which the steel billet export scheduled production was 420,000 mt, up 110,000 mt MoM.