News Release, June 18, 2026: The chrome market maintained a downward trend this week, with ample supply and sluggish demand across the board. Market confidence remains weak, and most participants hold bearish expectations.

[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 Morning Meeting Minutes: Tin Prices Expected to Maintain Fluctuating Trend Amid Macro News Disturbances and Weak Fundamentals, with High Prices Continuing to Suppress Consumption]

[SS futures fluctuate rangebound, spot stainless steel prices stabilize due to lack of upward momentum] SMM reported on August 27 that SS futures showed a stable fluctuating trend. As macro news was gradually digested, the impetus for further gains in SS futures weakened, with prices oscillating around 12,850 yuan/mt during the day. In the spot market, although the peak September-October season is approaching and both nickel and chromium procurement prices have risen, SS futures remained steady. Spot transactions were moderate recently, but downstream acceptance of higher prices was limited, leading to stable quotes from spot traders and a lack of upward momentum. On the futures side, the most-traded 2510 contract fluctuated. At 10:30 am, SS2510 was quoted at 12,890 yuan/mt, up 30 yuan/mt from the previous trading day. The spot premiums and discounts for 304/2B in Wuxi ranged between 330-480 yuan/mt. In the spot market, Wuxi cold-rolled 201/2B coils were quoted at 8,100 yuan/mt; cold-rolled 304/2B coils, with an average price of 13,125 yuan/mt in Wuxi and 13,125 yuan/mt in Foshan; cold-rolled 316L/2B coils, 25,675 yuan/mt in Wuxi and 25,675 yuan/mt in Foshan; hot-rolled 316L/NO.1 coils, 25,100 yuan/mt in both regions; and cold-rolled 430/2B coils, 7,400 yuan/mt in both Wuxi and Foshan. Last week, SS futures continued to decline, erasing all gains made this month...

This week, the ferrous metals series saw a high-level correction. At the beginning of the week, the market was abuzz with news that blast furnaces in Tangshan would be subject to 40% production restrictions by capacity at the end of August, leading to a pullback in raw material prices. Although a decline in production is beneficial for finished products, the collapse of cost support pushed these products to their lowest levels in nearly a month. In the latter half of the week, rumors circulated about stricter enforcement of order inspections, and actions were already being taken at southern ports, resulting in a more pronounced drop in HRC compared to rebar, narrowing the spread between the two. In the spot market, when the spot-futures price spread narrowed, there was still speculative demand for long positions, but the hot and rainy weather suppressed the recovery of end-use demand...

[smm magnesium morning meeting summary: raw material prices diverge, downstream purchases generally on hold] on august 20, the magnesium raw material market showed varied performance: dolomite, driven by resumed production, saw increased demand and firm prices; ferrosilicon futures fell sharply, with the spot market showing weak consolidation. magnesium ingot prices slightly decreased, with fugu quotes at 17,200-17,300 yuan/mt, and fob quotes at $2,380-2,420/mt. overseas tender season orders were clearly divided, with higher quotes after october. magnesium alloy and magnesium powder prices both moved in tandem with raw materials, overall presenting a "weak supply and demand" situation. downstream enterprises mostly adopted a cautious wait-and-see approach, restocking as needed, while the market awaited further recovery to boost demand.