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  Concentrated Restocking Is Expected to Commence, Iron Ore Prices Remain Supported [SMM Brief Review]

• The most-traded BC copper contract closed down 2.26%, with multiple macro factors weighing on copper prices [SMM BC Copper Review]

• [SMM Stainless Steel Daily Review] SS futures fluctuate at highs, stainless steel spot cargo supply tight and high.

  [SMM Stainless Steel Daily Review] SS futures fluctuated at highs, stainless steel spot supply tight, prices high: SMM Jan 16 - SS futures showed a pattern of retreating after a rapid rise. Although the SS futures edged up at the morning opening, they declined in the afternoon following SHFE nickel's drop, closing at 14,275 yuan/mt. In the spot market, stainless steel futures extended gains this week, with market sentiment holding up well. Despite some discount sales early in the week amid a slight correction in futures, spot prices rose in tandem with futures driven by news about Indonesian nickel ore. Although fear of high prices was evident, tight spot supply and strong expectations made low-priced resources scarce. Social inventory fell 1.28% WoW to 843,700 mt. The most-traded SS contract retreated after a rapid rise. At 10:30 am, SS2603 was quoted at 14,450 yuan/mt, up 55 yuan/mt from the previous trading day. In Wuxi, spot premiums/discounts for 304/2B were in the range of 20-220 yuan/mt. In the spot market, the average price of cold-rolled 201/2B coil in Wuxi was 8,550 yuan/mt; the average price of cold-rolled mill-edge 304/2B coil was 14,400 yuan/mt in Wuxi and 14,300 yuan/mt in Foshan; cold-rolled 316L/2B coil was 26,300 yuan/mt in Wuxi and 26,300 yuan/mt in Foshan; hot-rolled 316L/NO.1 coil was quoted at 25,500 yuan/mt in Wuxi; cold-rolled 430/2B coil was 7,750 yuan/mt in both Wuxi and Foshan. Recently, Indonesia’s Ministry of Energy and Mineral Resources…

• [SMM Manganese Ore Weekly Review] Overseas Market Forward Offers Rise, Manganese Ore Market Consolidates

  News on January 16: Northern ports: South African high-iron ore at 30.5-32.6 yuan/mtu, up 1.61% WoW; South African semi-carbonate ore at 36.5-37 yuan/mtu, up 2.80% WoW; Gabonese ore at 43-43.6 yuan/mtu, flat WoW; 46% Australian lumps at 43.9-44.4 yuan/mtu, flat WoW; South African medium-iron ore at 38.1-38.6 yuan/mtu, flat WoW. Southern ports: South African high-iron ore at 32.2-32.9 yuan/mtu, up 1.56% WoW; South African semi-carbonate ore at 35-35.7 yuan/mtu, down 0.84% WoW; Gabonese ore at 41.5-42 yuan/mtu, flat WoW; 46% Australian lumps at 41.5-42.2 yuan/mtu, flat WoW; South African medium-iron ore at 38.9-39.4 yuan/mtu, flat WoW. Manganese ore market prices continued their firm trend, with spot transaction prices remaining high.

• [Domestic Iron Ore Brief Review] Iron Ore Concentrate Prices in Tangshan Area May Edge Up Slightly

  [Domestic Iron Ore Brief: Iron Ore Concentrate Prices in Tangshan May Rise Slightly] Today, domestic iron ore concentrate prices in Tangshan rose slightly by 5 yuan, with the delivery-to-factory price, tax included, for 66% grade iron ore concentrates (dry basis) at 985-990 yuan/mt; approaching year-end, some mines and beneficiation plants are shipping appropriately due to cash flow considerations, but others remain watchful and unwilling to ship below their expectations.