DCE iron ore futures continued to fluctuate rangebound with a stronger bias today, with the I2601 closing at 788.5 yuan, up 1.81% from the previous trading day, and the increase expanded.

[SMM Stainless Steel Daily Review: US Fed's Hawkish Remarks Drive SS Below Recent Lows, Steel Mills Lower Prices to Boost Sales] SMM November 17 - SS futures showed a pattern of hitting bottom and then recovering. During Friday's night session, SS futures continued to be affected by weakened expectations for US Fed interest rate cuts, with the opening price pulling back further, breaking below the nearly five-year low to reach 12,310 yuan/mt. On Monday's opening, prices gradually recovered, closing at 12,415 yuan/mt by the end of the session. In the spot market, large stainless steel mills lowered their 304 stainless steel listed prices by 200 yuan/mt in the morning, and agent prices followed the decline, reaching relatively low levels. Market activity improved somewhat, with an increase in inquiries. Downstream demand remained weak, market expectations were pessimistic, and raw material prices also pulled back, leading steel mills to focus on reducing prices to actively boost sales. The most-traded SS futures contract weakened and declined. At 10:30 a.m., the SS2601 contract was quoted at 12,390 yuan/mt, down 65 yuan/mt from the previous trading day. In Wuxi, spot premiums/discounts for 304/2B were in the range of 380-580 yuan/mt. In the spot market, the average price for cold-rolled 201/2B coil in Wuxi was reported at 8,050 yuan/mt; for cold-rolled mill-edge 304/2B coil, the average price in Wuxi was 12,700 yuan/mt, while in Foshan it was 12,750 yuan/mt; in Wuxi, the price for cold-rolled 316L/2B coil was 24,300 yuan/mt, and in Foshan it was also 24,300 yuan/mt; for hot-rolled 316L/NO.1 coil, the price in Wuxi was reported at 23,700 yuan/mt; in both Wuxi and Foshan, the price for cold-rolled 430/2B coil was 7,600 yuan/mt. Stainless steel is entering the off-season for consumption toward year-end...

[Domestic Iron Ore Brief: Shandong Region Iron Ore Concentrates Prices May See Slight Increase Potential] In Shandong, the 64% grade alkaline powder dry basis pre-tax acceptance ex-mine price for iron ore concentrates from mines and beneficiation plants was reported at 858 yuan, down 9 yuan. Steel enterprises simultaneously lowered prices. Most mines are operating normally, mainly selling as they produce, with little inventory accumulation. However, the overall shipment pace has slowed down, and local steel mills are purchasing under long-term agreements.

Shanghai Metals Market (SMM) today announced the official launch and operational commencement of its Korea Office. This strategic expansion reinforces SMM's commitment to the Northeast Asian market and underscores its focus on delivering localized services to clients in the region’s metals and new energy sectors.

The EU is driving a policy-driven industrial revolution. Its Quota + CBAM combination establishes a new set of market access rules. This means that future steel products entering the EU market must simultaneously possess two key elements: Quota Allowances (market access permit) and Low-Carbon Certification (cost competitiveness permit). Consequently, global steel trade competition is evolving from the traditional two-dimensional competition of price and quality into a new three-dimensional era of price, quality, and carbon footprint.

DCE iron ore futures continued to fluctuate rangebound with a stronger bias today, with the I2601 closing at 772.5 RMB, up 0.26% slightly from the previous trading day. Approaching the weekend, market transactions were sluggish.

[SMM Stainless Steel Daily Review: Cost Support Loosens Amid Off-Season, Sluggish Stainless Steel Transactions May Sustain Weak Price Trend] SMM, Nov. 14: SS futures showed a further weakening and downward trend. Due to hawkish remarks from the US Fed, nonferrous metals generally declined today, and SS futures followed the downtrend, with the intraday low falling to 12,355 yuan/mt. On the spot market side, as SS futures continued to bottom out and with year-end off-season expectations, trading in the stainless steel spot market remained sluggish. In addition, raw material prices weakened simultaneously this week, loosening cost support for stainless steel, which further intensified the market's cautious and bearish sentiment. Transaction activity this week struggled to reverse the weak trend; although steel mill agents successively offered price discounts, the price cuts did not positively impact transactions, and market weakness persisted. Social inventory increased slightly this week, up 0.71% WoW to 952,200 mt. The most-traded SS futures contract weakened and declined. At 10:30 a.m., SS2601 was quoted at 12,415 yuan/mt, down 65 yuan/mt from the previous trading day. In Wuxi, spot premiums/discounts for 304/2B were in the range of 355-655 yuan/mt. In the spot market, the average price for cold-rolled 201/2B coil in Wuxi was 8,050 yuan/mt; for cold-rolled mill-edge 304/2B coil, the average price in Wuxi was 12,750 yuan/mt, and in Foshan, 12,800 yuan/mt; for cold-rolled 316L/2B coil in Wuxi, 24,300 yuan/mt, and in Foshan, 24,350 yuan/mt; for hot-rolled 316L/N...

[Domestic Iron Ore Brief: Iron Ore Concentrate Prices in West Liaoning May Have Some Upside Potential] The domestic ore market in west Liaoning was relatively sluggish, with the local leading steel mill lowering its purchase price. The ex-plant price for 66% grade iron ore concentrates on a wet basis, excluding tax, was 740-750 yuan/mt. Traders are currently relatively cautious in purchasing, showing a relatively strong overall desire to bargain down prices.