Latest Update in the SMM Coke Market

The US’s arbitrary tariff actions have led to a tendency for other overseas markets to follow suit. According to SMM’s latest steel mill export scheduling, planned exports in March fell by 3.5% compared to actual exports in February. However, overseas supply has not yet surged, and China’s export order-taking has improved. Therefore, despite the expansion of overseas barriers, the decline in exports has been better than expected. Meanwhile, domestic crackdowns on "fake exports" are strict, with rumors that export declarations will require relevant tax payment certificates starting May 1, leading to a continued "rush to export" phenomenon domestically. According to SMM shipping data, as of April 11, China’s port departures in April totaled 6.2278 million mt. Considering that major export traders and steel mills often set annual export targets, "volume discount" scenarios may still exist even in adverse external conditions. SMM expects steel exports in April to decline slightly from the high base of the previous month, but the decline may be limited! A more significant drop in exports may be seen in May!

Today, the iron ore futures opened higher and then pulled back slightly. The most-traded contract I2509 finally closed at 706, with a daily increase of 0.28%. Traders' willingness to sell was moderate, while speculative trading was weak.

SMM Special: China's Mechanical and Electrical Product Exports Up 8.7% YoY in Q1, with Faster Growth in Home Appliance Exports In Q1 2025, China's total import and export value of goods reached 10.3 trillion yuan, up 1.3% YoY. Mechanical and electrical products, which account for half of the total export value, continued to perform well in Q1. In Q1 this year, China exported 3.67 trillion yuan worth of mechanical and electrical products, an increase of 8.7%! Wang Lingjun, Vice Minister of the General Administration of Customs, stated at a press conference held by the State Council Information Office: The import and export of mechanical and electrical products grew rapidly. In Q1, China's import and export of mechanical and electrical products increased by 7.7%!

Today, The DCE iron ore futures first fell and then rose. The most-traded contract I2509 finally closed at 708, with a daily increase of 0.71%. Traders sold goods according to market conditions. As the weekend approached, inquiries from steel mills decreased, and some steel mills had tender plans. The market transaction atmosphere was moderate.

As of April 9, the total inventory of building materials in Guangzhou this week was 102,000 mt

Hangzhou's inventory this week was 1.079 million mt, down 44,000 mt WoW, a decrease of 3.92% WoW.