On June 10, 2025, the Ministry of Ecology and Environment (MEE) of the People's Republic of China officially announced the "Regulations on the Import of Recycled Black Mass Raw Materials for Lithium-ion Batteries and Recycled Steel." This document assigns the customs Harmonized System (HS) code 3824999996 to recycled black mass raw materials for lithium-ion batteries. The regulations will take effect on August 1, 2025.

Today, DCE iron ore futures fluctuated rangebound on the weaker side, with the most-traded contract I2509 closing at 695.5, down 0.5% for the day. Traders sold goods in line with market conditions, with some traders having abundant spot resources selling at lower prices. Steel mills purchased as needed, and the market transaction atmosphere was moderate.

The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on 18 Jun, 2025

During the survey period (June 10-17), the spot price of rebar fluctuated, with overall weak trading activity. Amid escalating geopolitical risks overseas, the futures market for industrial commodities experienced amplified volatility. However, there was no significant improvement in the fundamentals of the ferrous metals series. Market trading enthusiasm remained lackluster, with apparent rebar demand declining and electric furnace mills' profits continuously compressed. This week, three additional electric furnace mills halted production for maintenance, while two others shortened their operating hours. Overall, the national electric furnace operating rate this week was 30.98%, down 3.66% WoW.

Today, DCE iron ore futures pulled back from highs, with the most-traded contract I2509 closing at 699, down 0.07% for the day. Traders sold goods in line with market conditions, while steel mills adopted a wait-and-see attitude and purchased as needed. The market transaction atmosphere was average. The mainstream transaction prices of PB fines in Shandong were around 715 yuan/mt, down 5 yuan/mt from yesterday's prices. The transaction prices of PB fines in Tangshan were around 730 yuan/mt, down 5 yuan/mt from yesterday's prices.