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  Stainless steel prices showed weak trading, with the price center pulling back. [SMM Stainless Steel Spot Daily Review]

  SMM Stainless Steel Spot Market Daily Review: Weak Stainless Steel Transaction Prices, Price Center Pulls Back. On April 22, SS futures prices showed a weakening and pullback trend. Recently, stainless steel prices have remained stable but lacked upward momentum. Due to persistently sluggish procurement demand from downstream end-users, market participants' confidence was significantly insufficient. Some traders chose to offer discounts under transaction pressure, leading to an overall downward shift in the transaction price center. In the futures market, the most-traded contract 2506 fluctuated. At 10:30 AM, SS2506 was quoted at 12,710 yuan/mt, down 50 yuan/mt from the previous trading day. In the Wuxi region, the spot premiums/discounts for 304/2B were in the range of 510-660 yuan/mt. In the spot market, the average price of cold-rolled trimmed 304/2B coils was 13,125 yuan/mt in Wuxi and 13,155 yuan/mt in Foshan. Currently, the potential impact of US tariff policies has not been fully realized, and market expectations for future trends remain unclear. As a result, downstream companies generally adopted a cautious wait-and-see attitude, leading to persistently weak market transactions. The earlier optimistic expectations for a price rebound gradually faded, and prices gradually pulled back. Today, Tsingshan Group announced the May high-carbon ferrochrome steel procurement price, which exceeded previous market expectations. This situation reduced the likelihood of significant production cuts by stainless steel mills. Nickel prices have fallen to relatively low levels, while ferrochrome procurement prices have risen. Overall, the cost support for stainless steel remains. Based on the above factors, the downward space for stainless steel prices is expected to be limited.

• Summary of Imported Iron Ore Transaction Prices on April 22

  【SMM Iron Ore Price Transaction Summary】On April 22, prices showed mixed performance compared to the previous trading day. The PB fines in the main ports of Shandong were 770 yuan, and the super special fines were 630 yuan. In the main ports of Hebei, the PB fines were 770 yuan, and the super special fines were 638 yuan. (Unit: yuan/wmt)

• SMM China Rare Earth Market Daily Report on April 22

  April 22 SMM China Rare Earth Market Daily: Today, the rare earth market prices continued to be in the doldrums, with the price of terbium products falling rapidly, which dampened market confidence. Some suppliers continued to sell at low prices, causing the transaction prices in the rare earth market to keep declining. Given the current weak downstream demand and the high enthusiasm of upstream suppliers to sell, it is expected that there is still some downside room for rare earth prices in the short term.

• Affected by the resumption meeting in Wa State, the most-traded SHFE tin contract maintained a fluctuating downward trend [SMM Tin Futures Brief].

  SMM Tin Futures Review: Influenced by the Wa State Resumption Meeting, the Most-Traded SHFE Tin Contract Maintained a Fluctuating Downward Trend. As of today's close, the most-traded SHFE tin contract (SN2505) was quoted at 257,860 yuan/mt, down 0.57% from the previous day's settlement price. During the day, it reached a high of 262,090 yuan/mt and a low of 256,720 yuan/mt, showing a fluctuating downward trend. Open interest decreased by 2,224 lots to 26,554 lots, with a net capital outflow of 39.7218 million yuan, and market sentiment turned cautious. The London Metal Exchange (LME) tin price also faced pressure, and the SHFE-LME ratio pulled back to 8.28...

• [SMM Daily Review] Downstream Demand Remains Weak, Manganese Ore Spot Market in the Doldrums

  【SMM Daily Review】Weak Downstream Demand Keeps Manganese Ore Spot Market in the Doldrums April 22: Northern Ports: Australian lump 40-40.5 yuan/mtu, down 5.85% MoM; Australian seed 38.5-39.5 yuan/mtu, down 2.50% MoM; South African semi-carbonate 34-34.5 yuan/mtu, down 1.44% MoM; Gabon 38.5-39.5 yuan/mtu, down 4.88% MoM; South African high-iron 31-31.5 yuan/mtu, flat MoM. Southern Ports: Australian lump 42.5-43 yuan/mtu, down 4.47% MoM; Australian seed 40.5-41 yuan/mtu, flat MoM; South African semi-carbonate 35-35.5 yuan/mtu, flat MoM; Gabon 41.5-42.5 yuan/mtu, down 3.45% MoM; South African high-iron 29.5-30 yuan/mtu, down 1.65% MoM. Overseas mine shipments are gradually recovering, and port manganese ore inventory has slightly accumulated. Downstream alloy plants in both north and south China have shown intentions to reduce or halt production, resulting in weak enthusiasm for raw material procurement. Miner offers are somewhat chaotic, and transaction prices for manganese ore spot cargo are on a downward trend.