June 8 SMM Weekly Maintenance Summary

The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on 09 Jun , 2026

[SMM Stainless Steel Daily Review] Futures Weaken, SS Futures Pull Back; Spot Prices Steady with End-User Just-in-Time Procurement SMM reported on June 9 that SS futures showed a downward trend. Dragged by the overall weakness in non-ferrous metal futures, SS futures pulled back simultaneously. As of midday close, the most-traded SS contract was quoted at 14,420 yuan/mt. In the spot market, although futures fell back, spot stainless steel quotations remained firm, with mainstream quotations showing limited decline, but some lower-priced resources were also reported. Downstream end-users were cautious in purchasing, mostly making just-in-time procurement at low prices. The most-traded SS futures contract fell back. At 10:15 AM, SS2607 was quoted at 14,470 yuan/mt, down 255 yuan/mt from the previous trading day. Spot premiums for 304/2B in Wuxi were in the 550-1,200 yuan/mt range. In the spot market, the average price of Wuxi cold-rolled 201/2B coil fell 50 yuan/mt; cold-rolled raw edge 304/2B coil, the average price fell 25 yuan/mt in Wuxi and 25 yuan/mt in Foshan; Wuxi cold-rolled 316L/2B coil price was flat; hot-rolled 316L/NO.1 coil, quotations in Wuxi held steady; cold-rolled 430/2B coil in both Wuxi and Foshan held steady. Stainless steel futures and spots experienced heightened volatility, futures rose first and then fell back, disturbed by overseas macro news, and off-season characteristics fully emerged. Industry expectations for the future were vague, wait-and-see sentiment was strong, transactions recovered in pulses but lacked sustainability, traders faced rising shipment pressure, and mostly boosted deals by cutting profits. Overall, macro news disturbed futures, off-season...

[SMM Chrome Daily Review: Demand Limited, Prices Fall] June 9, 2026 – The ferrochrome and chrome ore markets saw slight fluctuations...