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  Nexteer to establish Asia-Pacific headquarters, R&D center, smart manufacturing hub in Suzhou

  Under the MoU, Nexteer will acquire a 10-hectare site in Suzhou to build a state-of-the-art smart manufacturing facility with a floor area of roughly 70,000 square meters.

• MMi Daily Iron Ore Report (September 9)

  Iron ore futures continued to hold up well today, with the most-traded contract I2601 closing at 805 yuan, up 2.03% from the previous trading day. Traders showed moderate willingness to sell, while steel mills exhibited stronger wait-and-see sentiment and tepid purchase willingness.

• SS Futures Test Cost Support as Stainless Steel Prices Strengthen and Rise [SMM Stainless Steel Daily Report]

  [SMM Stainless Steel Daily Review: SS Futures Test Cost Support as Stainless Steel Prices Rally] SMM, September 9 - SS futures held up well during the session. Despite a sluggish night session, prices climbed in tandem with the strong performance of ferrous metals futures after the daytime session opened, briefly approaching the key 13,000 yuan/mt level. Spot market-wise, buoyed by positive SS futures and strengthening cost side, most spot traders maintained optimistic outlooks and raised offers. While cold-rolled product transactions remained sluggish, tight hot-rolled supply supported active inquiries and deals. Futures-wise, the most-traded 2510 contract pulled back. At 10:30 am, SS2510 traded at 12,860 yuan/mt, up 105 yuan/mt from the previous close. Wuxi’s 304/2B spot premiums/discounts ranged between 255-555 yuan/mt. In the spot market, Wuxi’s 201/2B cold-rolled coil averaged 8,100 yuan/mt; 304/2B cold-rolled edges, Wuxi and Foshan both averaged 13,200 yuan/mt; 316L/2B cold-rolled coil, both regions quoted 25,825 yuan/mt; 316L/NO.1 hot-rolled coil, both at 25,300 yuan/mt; 430/2B cold-rolled coil, Wuxi and Foshan both at 7,550 yuan/mt. The market officially entered the September-October peak season. The stainless steel industry widely expects prices to trend upward this month. Although...

• [SMM HRC Arrivals] Arrivals Fluctuate Rangebound WoW  

  SMM Steel September 9 - According to SMM statistics, the estimated total shipments to mainstream markets this week reached 238,000 mt, down 0.87% WoW. By market:  

• Sulphuric Acid Cost-Driven Titanium Dioxide Prices Continue Upward Trend [SMM Titanium Spot Market Report]

  [SMM Titanium Spot Market Update: Sulphuric Acid Cost Drives Titanium Dioxide Prices to Continue Rising] Today, domestic titanium dioxide prices rose across the board, with rutile-type quotations at 12,600-13,200 yuan/mt and chloride-process quotations at 14,500-15,500 yuan/mt. The FOB export averages were $1,850/mt and $2,090/mt, respectively. High sulphuric acid prices on the cost side continued to support sulphate-process titanium dioxide producers' refusal to budge on prices, while coatings exhibitions boosted expectations of a September demand recovery. Coupled with sustained inventory drawdowns, market bullish sentiment strengthened. Recently, LB Group's Xiangyang Titanium Industry suspended 150,000 mt of capacity due to a safety incident, further tightening short-term supply and pushing prices higher. Titanium dioxide prices are expected to have further upside potential in September.