[SMM Stainless Steel Market Flash] EU Adds 'Melt and Pour' Origin Rule to Curb Steel Rerouting, Phased to 2028

[SMM Stainless Steel Daily Review] SS short-term maintains a relatively stable consolidation pattern; stainless steel spot prices stable, end-users cautiously wait and see On July 15, SMM reported that SS futures showed a relatively stable consolidation pattern. SS futures pulled back in the night session, but after the morning open, the decline was partially recovered, then moved sideways until the close, with the most-traded SS contract settling at 14,595 yuan/mt. Spot market side, demand was in the off-season, and recent volatility intensifies in SS futures with no clear directional guidance, so downstream end-users held a strong wait-and-see sentiment, overall transactions were sluggish; spot prices were largely stable, with only some traders under shipment pressure occasionally releasing low-priced goods. SS futures most-traded contract. At 10:15 a.m., SS2608 reported at 14,660 yuan/mt, up 120 yuan/mt from the previous trading day. Spot premiums for 304/2B in Wuxi area were in the 260-610 yuan/mt range. In the spot market: Wuxi cold-rolled 201/2B coil average flat; cold-rolled raw edge 304/2B coil (Wuxi +25 yuan/mt, Foshan flat); Wuxi cold-rolled 316L/2B coil -100 yuan/mt; hot-rolled 316L/NO.1 coil, Wuxi flat; cold-rolled 430/2B coil, both flat. This week, macro liquidity disturbances intensified, stainless steel futures moved independently with a weak trend, and futures noticeably deviated from the pace of SHFE nickel and other nonferrous metals. During the week, capital sentiment switched frequently, driving SS futures into wild swings, earlier 14,500...

[SMM Stainless Steel Daily Review] Capital Flows and SHFE Nickel Resonance Propel SS Futures; Spot Stainless Steel Demand Remains Weak According to SMM news on July 14, SS futures showed a strengthening and upward trend. Driven by the strengthening of SHFE nickel during the night session, combined with the impact of SS's own capital flow fluctuations, SS rebounded quickly after the night session opened, and then maintained a generally strong consolidation pattern. As of the midday close, the most-traded SS contract settled at 14,565 yuan/mt. In the spot market, boosted by SS's stop falling and strengthening, spot quotations recovered from yesterday afternoon's decline, low-priced sources in the market decreased, some traders raised their quotations, downstream end-user clients remained in a wait-and-see sentiment, and transactions remained mediocre overall. The most-traded SS futures contract. At 10:15 a.m., SS2608 was reported at 14,540 yuan/mt, up 210 yuan/mt from the previous trading day. Spot premiums for 304/2B in Wuxi were in the 330-730 yuan/mt range. In the spot market, the average price of cold-rolled 201/2B coil in Wuxi was flat; for cold-rolled raw edge 304/2B coil, the average price in Wuxi held steady, and the average price in Foshan held steady; the price of cold-rolled 316L/2B coil in Wuxi was flat; for hot-rolled 316L/NO.1 coil, the Wuxi quotation was flat; and cold-rolled 430/2B coil in both Wuxi and Foshan was flat. This week, macro capital flow disturbances intensified, and stainless steel futures moved in an independent weak trend, with market movements significantly diverging from the rhythm of SHFE nickel and other nonferrous metals. During the week, capital sentiment switched repeatedly, causing SS futures to swing wildly. The key support level of 14,500 yuan/mt was breached earlier, and the overall trend center continued to...

[SMM Stainless Steel Daily Review] SS Futures Move Sideways Under Pressure Amid Off-Season Demand Weakness; Spot Prices Hold Steady but Sentiment Stays Pessimistic According to SMM on July 13, SS futures showed a consolidation pattern. The non-ferrous metals futures overall consolidated on a subdued note, with SS extending its earlier weak performance within a limited range. By the midday close, the most-traded SS contract settled at 14,315 yuan/mt. In the spot market, dragged down by low-level SS futures and the traditional off-season, end-use demand remained persistently sluggish. Stainless steel mills kept their guidance prices flat, and most traders held their quotes steady for the time being, though market sentiment leaned toward a pessimistic and subdued tone. SS futures, the most-traded contract. At 10:15 a.m., SS2608 was reported at 14,330 yuan/mt, down 15 yuan/mt from the previous trading day. Spot premiums for 304/2B in Wuxi stood in the 540–940 yuan/mt range. In the spot market, the average price for cold-rolled 201/2B coil in Wuxi dropped 50; cold-rolled unedged 304/2B coil average prices remained flat in Wuxi and Foshan; cold-rolled 316L/2B coil prices in Wuxi rose 100 yuan/mt; for hot-rolled 316L/NO.1 coil, Wuxi quotes held flat; and cold-rolled 430/2B coil prices stayed unchanged in both Wuxi and Foshan. This week, heightened macro liquidity disturbances led SS futures to move in an independently weak trend, with the futures markedly decoupling from SHFE nickel and other non-ferrous metals in their movement pace. During the week, repeated shifts in fund sentiment triggered wild swings in SS futures. The key support level at 14,500 yuan/mt was breached earlier, and the overall trend center continued to shift lower. The broader market…