Australia Makes Preliminary Anti-Dumping Ruling, Imposes Duties on Chinese Freight Rail Wheels

[SMM Stainless Steel Daily Review] SS Futures Pull Back; Stainless Steel Quotes Retreat; Market Trading Sluggish SMM, August 13 – SS futures moved lower and pulled back overall, dragged by broad weakness in nonferrous metals, with SS moving down in tandem. As of the close, the most-traded SS futures contract settled at 14,385 yuan/mt. In the spot market, dragged by the pullback in SS futures and lower guidance prices at a major stainless steel mill, 304 stainless steel quotes pulled back. However, the price pullback turned market sentiment pessimistic; downstream purchasing was cautious, and intraday inquiries and deals were weak. The most-traded SS futures contract. At 10:15 a.m., SS2610 stood at 14,395 yuan/mt, down 160 yuan/mt from the previous trading day. In Wuxi, spot premiums for 304/2B were in the 475-675 yuan/mt range. In the spot market, the average price of cold-rolled 201/2B coil in Wuxi was flat; for cold-rolled mill-edge 304/2B coil, average prices fell by 125 yuan/mt in Wuxi and by 175 yuan/mt in Foshan; cold-rolled 316L/2B coil in Wuxi was flat; for hot-rolled 316L/NO.1 coil, quotes in Wuxi were flat; and cold-rolled 430/2B coil in Wuxi and Foshan was flat. This week, stainless steel futures were disrupted by both industry news and capital flows, showing wild swings overall, with a fierce tug-of-war between longs and shorts. During the week, news about additional nickel ore quotas under Indonesia’s RKAB repeatedly disrupted market expectations. Combined with shifts in capital flows in futures, SS futures rose initially before pulling back, briefly testing the 15,100 yuan/mt level mid-week, but subsequently, as expectations of growth in nickel ore quotas heated up...

On August 13, total rebar inventory this week stood at 685.15 mt, up 52,300 mt WoW (+0.77%) and up 35.14% YoY on the lunar calendar; total wire rod inventory this week stood at 1.612 million mt, up 81,400 mt WoW (+5.32%) and up 45.35% YoY on the lunar calendar.