Latest Update in the SMM Iron Ore Price Market

[SMM Daily Spot Stainless Steel Review: Favourable Macro Front Supports Stainless Steel Prices to Rise, but Demand Constraints Result in Weak Upward Momentum] SMM reported on May 13 that amidst the easing of China-US tariff policies, today's SS futures prices held steady above 12,900 yuan/mt, but overall, they fluctuated, and further upward movement faced resistance. The spot price, driven by this trend, also held up well, but the increase had slowed compared to yesterday. Following yesterday's price rise, the purchasing demand that had been suppressed by pessimistic wait-and-see sentiment in the market was released, and transactions significantly improved. Today, transactions have somewhat cooled down, but they are still better than before. In the futures market, the most-traded 2507 contract fluctuated. At 10:30 a.m., SS2506 was quoted at 12,910 yuan/mt, up 160 yuan/mt from the previous trading day. In the Wuxi region, the spot premiums/discounts for 304/2B stainless steel ranged from 350-500 yuan/mt. In the spot market, the cold-rolled 201/2B coils in Wuxi and Foshan were both quoted at 8,050 yuan/mt; the cold-rolled trimmed 304/2B coils had an average price of 13,175 yuan/mt in Wuxi and 13,150 yuan/mt in Foshan; the cold-rolled 316L/2B coils were priced at 23,850 yuan/mt in Wuxi and the same in Foshan; the hot-rolled 316L/NO.1 coils were quoted at 23,050 yuan/mt in both regions; and the cold-rolled 430/2B coils were both priced at 7,500 yuan/mt in Wuxi and Foshan. Currently, significant adjustments are being made to China-US tariff policies: 91% of the previously imposed tariffs will be removed, and among the 34% reciprocal tariffs, the imposition of 24% will be suspended for 90 days, with only ... retained.

Today, DCE iron ore futures moved downwards after a higher opening and held up well throughout the day. The most-traded contract I2509 eventually closed at 714.5, up 1.06% for the day. Traders sold goods in line with market conditions, while steel mills purchased as needed.

[Brief Commentary on Domestic Iron Ore Market: Iron Ore Concentrates Prices in Tangshan Region May Rise Slightly] At the beginning of the week, the iron ore concentrates market in Tangshan was relatively stable, with delivery-to-factory prices for 66% grade dry-basis iron ore concentrates (tax included) at 940-945 yuan/mt. Influenced by the optimistic outcome of the Sino-US tariff negotiations, market sentiment was relatively optimistic in the short term. Mines and beneficiation plants had a strong wait-and-see sentiment and a strong sentiment to stand firm on quotes. Steel mills' current inventory levels were relatively low, mostly sufficient for 5-7 days of production, and there was an expectation of restocking.

[SMM Steel Mill Guidance Price] Guidance Prices for Various Series of Domestic Large Stainless Steel Mills on May 13

[Delong Xiangshui stainless steel plate price] On May 13, 2025, the price of Delong Xiangshui 304 cold-rolled stainless steel plate in the Foshan market was 12,900, for May futures, with the reported volume pending approval. This represents an increase of 100 compared to April 29.

[Tsingshan Stainless Steel List Prices] On May 13, 2025, Tsingshan Group adjusted the spot prices for May and futures prices for June. The spot price for 304 round steel φ65-130 was 12,600 yuan/mt, up by 100 yuan/mt; 316L prices were closed.

[TISCO Stainless Steel List Prices] TISCO stainless steel list prices on May 13, 2025: Cold-rolled 304 at 15,950, up 100; 321 at 16,500, up 100; 316L at 25,950, up 200; 430 at 9,800; HRC 304 at 15,200, up 100; 304L at 15,300, up 100; 321 at 15,800, up 100; 316L at 24,900, up 100; Medium-thickness plates (random length) 304 at 16,700; 304L at 16,900; 321 at 18,800; 316L at 28,000.

[Dongfang Special Steel Stainless Steel Plate Prices] On May 13, 2025, Dongfang Special Steel's stainless steel plate prices: HRC (4-8mm) 304 price remained flat at 12,750; 316L price increased by 50 to 22,950.