[SMM Stainless Steel Market Flash] Report Says New Stainless Steel Can Operate in Seawater at up to 1700 mV

[SMM Stainless Steel Daily Review] SS Night Session Strengthens, Stainless Steel Spot Offers Rise Ahead of Dual Holidays According to SMM on September 23, SS futures opened stronger in the night session, driven by a higher open in SHFE nickel, with futures continuing to climb and probe higher. The intraday high touched 13,920 yuan/mt, and by the close, the most-traded SS contract settled at 13,840 yuan/mt. In the spot market, boosted by further strength in SS futures, coupled with recent news of production cuts at stainless steel mills and just-in-time procurement ahead of the Mid-Autumn Festival and National Day holiday, stainless steel agents and traders raised their offers somewhat, though overall trading volume remained limited as the holiday approached and buyers with just-in-time procurement needs saw their bargaining power diminish. SS futures most-traded contract. At 10:15 a.m., SS2611 was at 13,855 yuan/mt, up 125 yuan/mt from the previous trading day. Spot premiums for 304/2B in Wuxi were in the 415-715 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, the average price in Wuxi rose 75 yuan/mt, and the average price in Foshan rose 100 yuan/mt; cold-rolled 316L/2B coil prices in Wuxi were flat; hot-rolled 316L/NO.1 coil offers in Wuxi were flat; cold-rolled 430/2B coil prices in both Wuxi and Foshan were flat. This week, the overall market was dominated by a weak tone, with the nonferrous metals sector collectively hitting bottom, dragging SS futures down persistently, with an intraday dip to a low of 13,290 yuan/mt. As the US Fed's rate hike landed, previously accumulated macro headwinds were released in a concentrated manner and largely exhausted for the time being, and market pessimism...

Mongolia’s National Statistics Office reported molybdenum concentrate output, on a contained-metal basis, of 382.0 tonnes in August 2026, down 10.0% MoM but up 8.7% YoY. Jan–Aug output totaled 3,672.5 tonnes, up 9.2% YoY. August production was 42.4 tonnes below July but 30.5 tonnes above a year earlier. Mongolia’s cumulative supply therefore remained ahead of 2025 despite softer short-term output. The table provides no company-level breakdown, so the cause of the monthly decline cannot be confirmed.

Peru’s Ministry of Energy and Mines (MINEM) reported July molybdenum output of 3,606.8 tonnes, up 15.0% YoY. Jan–Jul output totaled 22,384.0 tonnes, down 1.8%. Sociedad Minera Cerro Verde produced 1,012.2 tonnes, up 30.3%; Anglo American Quellaveco produced 458.1 tonnes, up 23.3%; and Minera Las Bambas produced 336.7 tonnes, up 16.3%. Southern Peru Copper Corporation’s output fell 1.6% to 1,214.7 tonnes. Gains at Cerro Verde, Quellaveco and Las Bambas drove the monthly rebound and narrowed the cumulative supply deficit.