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  [SMM Analysis] Post-Holiday Rebound Lifts China's Stainless Steel Futures, But Physical Market Tells a Cautious Story

  Macro tailwinds drive a 320 yuan recovery in SS2605, while high supply and weak spot demand limit the upside

• Titanium Dioxide Prices Rose, Titanium Slag Prices Fell, and Titanium Ore Prices Held Steady [SMM Titanium Spot Market Brief]

  [SMM Titanium Spot Brief: Titanium Dioxide Prices Rose, Titanium Slag Prices Fell, Titanium Ore Prices Held Steady] On April 10, acid-soluble titanium slag prices fell, while reduced titanium and high-titanium slag prices held steady. Titanium tetrachloride prices rose, and titanium ore prices remained largely stable overall. Titanium dioxide prices saw a broad rise this week, with anatase and rutile grades posting notable gains, while chloride-process titanium dioxide edged up. High-titanium slag prices are expected to hold steady, and titanium concentrate prices are likely to see limited fluctuations.

• Short-Term Raw Material Prices May Swing Wildly [SMM Steel Industry Chain Weekly Report]

  This week, ferrous metals fluctuated downward, with raw materials declining significantly more than finished steel. Cost-side logic weakened further during the week. Mid-week, both the U.S. and Iran indicated they had entered the final stage of finalising negotiation details, causing overseas market crude oil to plunge and dragging down the coal sector. In the latter half of the week, rumors emerged that negotiations between China Mineral Resources and BHP would be announced next week, with iron ore leading the downward trend. On the finished steel side, inventories of the five major steel products continued to destock, maintaining a structure of both rising supply and demand. Spot market side, futures were weak, end-user purchasing enthusiasm was lukewarm, the spot-futures price spread widened somewhat, and some market arbitrageurs between spot and futures began to take profits...

• 【SMM Analysis】Weekly Review of Indonesian Nickel Market - Apr 10

• [SMM Analysis] Aluminum Processing Rates Show Slow Recovery, Lag Behind Peak-Season Averages

  This week, the weekly operating rate of China's leading aluminum downstream processing enterprises pulled back 0.5 percentage points WoW to 64.7%. The industry continued its weak recovery pattern, with divergence among segments intensifying.