Iron ore continued its weak and volatile trend today. The main contract I2605 closed at 789.5, down 0.57% from the previous trading day.

[Domestic Iron Ore Brief: Iron Ore Concentrate Prices in West Liaoning May Remain in the Doldrums with Fluctuations] The domestic ore market in west Liaoning showed no significant fluctuations. The current ex-factory price for 66% grade iron ore concentrates on a wet basis, excluding taxes, is 740-750 yuan/mt. Mines and beneficiation plants mostly hold prices firm and adopt a wait-and-see approach. Buyers, considering no urgent restocking needs, show little purchase willingness at this price level; traders maintain a cautious mindset.

Multiple factors on the macro front significantly disturbed market sentiment in the rebar market in 2025.

[SMM Stainless Steel Daily Review] Year-End Futures Lead Stainless Steel Spot Prices Higher, Production Schedule Rises on Restored Market Confidence Expectations SMM December 31 - SS futures held up well. Entering the last trading day of 2025, SHFE nickel futures continued to rise, driving SS futures even higher. The most-traded SS contract finally settled at 13,125 yuan/mt. In the spot market, SS futures extended their upward trend recently driven by news, which helped restore confidence in the stainless steel spot market. Combined with rising nickel pig iron and stainless steel scrap prices, cost support strengthened, spot traders' bullish sentiment heated up, and some agents still suspended quotations, pushing spot offers even higher. Although downstream acceptance of high-priced cargo remained moderate, transactions improved compared to the previous period driven by traders' price concessions, easing market pressure. The most-traded SS futures contract held up well. At 10:30 a.m., SS2602 was quoted at 13,095 yuan/mt, up 35 yuan/mt from the previous trading day. In Wuxi, spot premiums/discounts for 304/2B were in the range of 25-275 yuan/mt. In the spot market, the average price for cold-rolled 201/2B coil in Wuxi was 8,200 yuan/mt; for cold-rolled mill-edge 304/2B coil, the average price in Wuxi was 13,075 yuan/mt, and in Foshan, 13,075 yuan/mt; for cold-rolled 316L/2B coil in Wuxi, 24,400 yuan/mt, and in Foshan, 24,400 yuan/mt; for hot-rolled 316L/NO.1 coil in Wuxi, 23,600 yuan/mt; for cold-rolled 430/2B coil in both Wuxi and Foshan, 76...

According to the SMM survey, as of December 31, the blast furnace operating rate at the 242 steel mills surveyed by SMM stood at 85.15%, up 0.32 percentage points WoW.