Latest Update in the SMM Finished Steel Market

[SMM stainless steel daily review: SS futures rise drives up steel mills' list prices, spot offers increase but transactions lag behind] SMM December 5 news, SS futures showed a strong upward trend. Today, driven by the overall strength in metal futures, SS futures edged higher, with the night session high on Friday reaching 12,575 yuan/mt, but faced resistance due to weak fundamentals, pulling back to 12,510 yuan/mt near the close. In the spot market, the strong performance of SS futures led to moderate market activity before noon, and with major stainless steel mills raising list prices, traders' offers increased. However, market confidence has not fully recovered, acceptance of high prices remains limited, and actual transaction volumes were low. The most-traded SS contract held up well. At 10:30 am, SS2601 was quoted at 12,525 yuan/mt, up 20 yuan/mt from the previous trading day. In Wuxi, spot premiums/discounts for 304/2B were in the range of 345-545 yuan/mt. In the spot market, the average price for cold-rolled 201/2B coil in Wuxi was 8,000 yuan/mt; for cold-rolled mill edge 304/2B coil, the average price in Wuxi was 12,800 yuan/mt, and in Foshan 12,800 yuan/mt; for cold-rolled 316L/2B coil in Wuxi, 23,775 yuan/mt, and in Foshan 23,775 yuan/mt; for hot-rolled 316L/NO.1 coil in Wuxi, 23,000 yuan/mt; for cold-rolled 430/2B coil in both Wuxi and Foshan, 7,600 yuan/mt. Recently, against the backdrop of strengthened expectations for US Fed interest rate cuts, metal futures overall showed a strong...

Iron ore experienced a weak and volatile trend today, with the main contract I2605 closing at 760.5, down by 1.43% compared to the previous trading day. Traders adjusted their shipments according to market conditions,

[Domestic Iron Ore Brief: Iron Ore Concentrate Prices in Shandong May Remain in the Doldrums] This week, mines and beneficiation plants in Shandong offered 64-grade alkaline concentrates at 882 yuan per dry metric ton, up 11 yuan, on a pre-tax, acceptance-paid ex-mine basis. Steel mills raised their prices in sync. Most miners maintained normal production with virtually no inventory buildup. Steel mills primarily purchased under long-term agreements, while procurement in Hebei slowed down slightly. Small mills reported average sales. This week, a few steel mills have maintenance plans.

The DCE iron ore futures contract on the DCE traded in the doldrums today. As the contract rollover shifted to I2605, it closed at 769 yuan, down 0.77% from the previous trading day.

As winter approaches, construction at downstream sites is nearing the end of 2025, and market demand is weakening. To stabilize production pace, digest inventories in advance, ease financial pressure, and lock in market demand, steel mills have recently rolled out their winter stockpiling policies. According to incomplete statistics from SMM, as of December 5, one mill in Northeast China, two in Northwest China, and one in North China have announced their winter stockpiling policies.

[Domestic Iron Ore Brief: Iron Ore Concentrate Prices in West Liaoning May Remain in the Doldrums with Fluctuations] Prices of domestic iron ore concentrates in west Liaoning remain relatively stable, with the current ex-factory price for 66% grade iron ore concentrates on a wet basis, excluding tax, ranging from 755 to 760 yuan/mt.

[SMM Stainless Steel Daily Review: Macro Tailwinds Drive Futures Rebound, Weak Fundamentals Limit Upside Room] SMM, December 5 - SS futures showed a strengthening recovery trend. Stainless steel futures strengthened and recovered today, holding up well overall during the session, with the high point once rising above 12,500 yuan/mt. In the spot market, driven by macro tailwinds this week, SS futures strengthened and probed higher at the start of the week, market sentiment recovered, and transactions saw a noticeable recovery. Although cost side loosened, limiting the upward momentum for stainless steel spot prices, they still edged higher. However, amid the year-end off-season, considerable cautious wait-and-see sentiment persists in the market. After phased replenishment purchases were completed, transaction activity weakened relatively quickly. This week, social inventory accumulated, rising 0.1% WoW to 946,900 mt. The most-traded SS futures contract was in the doldrums. At 10:30 AM, SS2601 was quoted at 12,455 yuan/mt, flat from the previous trading day. In Wuxi, the spot premium/discount for 304/2B was in the range of 315-515 yuan/mt. In the spot market, the average price for Wuxi cold-rolled 201/2B coil was reported at 7,950 yuan/mt; the average price for cold-rolled mill-edge 304/2B coil was 12,700 yuan/mt in Wuxi and 12,700 yuan/mt in Foshan; the price for cold-rolled 316L/2B coil in Wuxi was 23,775 yuan/mt, and 23,775 yuan/mt in Foshan; the price for hot-rolled 316L/NO.1 coil in Wuxi was reported at 2,300 yuan/mt; the price for cold-rolled 430/2B coil was 7,600 yuan/mt in both Wuxi and Foshan. Recently, against the backdrop of strengthening expectations for US Fed interest rate cuts, go...