Latest Update in the SMM Carbon Anode Market

This week, ferrous metals fell continuously. During the week, there were many disturbances from unverified market rumors, but overall macro sentiment was weak, and expectations of rate hikes outside China continued to weigh on commodity sentiment. Earlier, rumors of a strike at BHP caused a slight rebound in iron ore; in the latter half of the week, Tangshan issued a notice on the "Tangshan Industrial Source Emission Reduction Plan for H2 2026," and combined with post-holiday inventory accumulation of the five major steel products, market sentiment was weak, and ferrous metals fell again. In the spot market, the off-season characteristics for end-users became more evident, market demand continued to weaken. While spot prices remained relatively firm, the spot-futures price spread widened somewhat, and positions in both futures and spot markets were unwound. Transactions were concluded at prices below market levels, further dragging down market prices......

[SMM Tin Futures Commentary: Tin markets in and outside China showed a V-shaped intraday trend, the most-traded SHFE tin contract tested a low of 375,000 and then fluctuated and rebounded]

[SMM Tin Midday Review: SHFE tin opened lower and rebounded slightly, fluctuating around 385,000, while downstream enterprises' restocking demand was released in stages.]

[SMM Tin Midday Review: The most-traded SHFE tin contract falls to around 390,000/mt, market trading sentiment recovers]

[SMM Tin Midday Review: US Dollar Index Breaks Through 100 Level, Most-Traded SHFE Tin Contract Weak]

[SMM Tin Midday Commentary: U.S.-Iran Talks Break Down, Most-Traded SHFE Tin Contract’s Price Center Fluctuates Downward]

This week, ferrous metals edged higher before extending their pullback, with coking coal posting the largest decline. At the beginning of the week, the National Development and Reform Commission (NDRC) and other departments issued a notice on launching a three-year campaign for energy conservation and carbon reduction in key industries, and news that the U.S. and Iran were to sign a memorandum of understanding on the 19th improved market sentiment, lifting all ferrous metals. In the latter half of the week, expectations for an eighth round of coke price hikes materialized in the futures market. However, as steel mill profits narrowed further and spot coke had largely priced in the eighth increase, further upside room was limited. Combined with emerging expectations of peak hot metal output, futures began to correct and cost support weakened. Meanwhile, May macro data came in below expectations, dragging the entire ferrous metals complex lower...

[SMM Tin Midday Review: US Fed Releases Hawkish Signal, Center of the Most-Traded SHFE Tin Contract Slides to Around 412,000]

[SMM Tin Midday Review: US Fed Expected to Hold June FOMC Meeting, the Most-Traded SHFE Tin Contract Consolidates at Highs Above 420,000]