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  Stainless Steel Trading Remains Mediocre with Strong Sentiment to Stand Firm on Quotes [SMM Stainless Steel Spot Daily Review]

  [SMM Stainless Steel Spot Daily Review: Stainless Steel Trading Remains Mediocre, Sentiment to Stand Firm on Quotes Is Strong] Today, the trading atmosphere in the stainless steel market was mediocre. In the futures market, the most-traded 2505 contract fluctuated frequently, with a quote of 13,285 yuan/mt at 10:30 on March 4. The tug-of-war between longs and shorts was intense, and the spot premiums and discounts for 304/2B fluctuated significantly, with Wuxi premiums ranging from -55 to 245 yuan/mt. In the spot market, offers were active but transactions were limited. Some steel mills raised their offers, drawing attention, while most producers remained on the sidelines. Prices in Wuxi and Foshan were stable, with minor fluctuations in small orders. Overall, shipments fell short of expectations, and demand release was hindered.

• U.S. Tariff Threat Materializes, SHFE Aluminum Fluctuates [SMM Aluminum Futures Brief Review]

  [SMM Aluminum Futures Brief Review: US Tariff Threat Materializes, SHFE Aluminum Fluctuates] Recently, domestic spot alumina prices have stabilized after a decline, mainly supported by short-term export demand and stockpiling for transfer to delivery warehouses. However, overseas prices have declined, squeezing export profit margins. The market expects some new alumina capacity to gradually come online, reinforcing the expectation of a loosening alumina supply and demand balance. Medium and long-term prices still face pressure. The market is currently in a tug-of-war between longs and shorts, with short-term fluctuations likely to continue. Key focus should be on the dynamics of export profitability and changes in bauxite cost support. Driven by macro sentiment and trading expectations, SHFE aluminum remains more likely to rise than fall. The possibility of further escalation of tariff-related issues and macroeconomic stimulus leading to unexpected demand cannot be ruled out. Combined with a slowdown in inventory accumulation, aluminum prices are expected to maintain a high-level upward fluctuation.

• [SMM In-Depth Analysis] New Regulations Again? Impact of Numerous New Indonesian Policies on the Nickel Market

  Starting from 2025, with the launch of the SIMBARA system at the beginning of the year, the heated announcement of the natural resource export foreign exchange control policy (DHE SDA), and the adjustments to HPM and HBA prices, the Indonesian government has consistently conveyed its policy intention to better control the pricing power of local resources and products, increase national tax revenue, and enhance Indonesia's economic position internationally. For the nickel industry, from nickel ore to smelters, the intensity of policy control at various stages has become increasingly stringent. During periods of changes in Indonesia's foreign exchange control policies, more attention needs to be paid to export-related policies to better address the opportunities and challenges of investing in Indonesia.

• Gasgoo Daily: FAW-Volkswagen integrates DeepSeek large model for full-cycle automotive innovation

  With Gasgoo Daily, we will offer daily important automotive news in China. For those we have reported, the title of the piece will include a hyperlink, which will provide detailed information.

• Copper Prices Fluctuate and Decline as Secondary Copper Raw Material Shortage Drives Suppliers to Stand Firm on Quotes [SMM Secondary Copper Daily Review]