Latest Update in the SMM Finished Steel Market

[Domestic Iron Ore Brief Review: Prices of Iron Ore Concentrates in Tangshan May Slightly Decline] The market for iron ore concentrates in Tangshan has started to weaken, with the delivery-to-factory price for 66-grade dry basis including tax at 960-970 yuan/mt. Leading steel enterprises have a strong desire to bargain down prices, making it increasingly difficult for local resources to rise again, and market transactions have consequently slowed down.

Today, iron ore futures dropped significantly. The most-traded I2505 contract closed at 764, down 2.18% for the day. Traders showed moderate willingness to sell. Steel mills began restocking ahead of the holiday, with procurement volume increasing significantly WoW.

[At the 2024 Supplier Conference, Zoppas Industries Group awarded Shanxi TISCO Stainless Steel Precision Strip Co., Ltd. the plaque of "Core Business Partner."] It is reported that Zoppas Industries Group was founded in 1963, headquartered in Venice, Italy, and has now become a globally renowned leader in the electric heating elements and systems industry...

[SMM Iron Ore Weekly Report] Looking ahead to next week, global shipments may fall back from highs. Additionally, due to the previous decline in shipments, port arrivals are also expected to decrease. On the demand side, according to SMM's blast furnace maintenance data, some blast furnaces have production resumption plans next week, and pig iron production is expected to stop declining and rebound. Furthermore, considering that steel mills will become more active in restocking after the New Year, spot iron ore prices are likely to receive some support. Iron ore prices are expected to continue fluctuating upward next week.

[SMM Analysis: Stainless Steel Spot Prices Continued to Decline This Week, With 304 CRC Prices Showing Varying Degrees of Downward Adjustment WoW] As of January 3, SMM Wuxi region 304 cold-rolled coil prices were quoted at 12,850-13,000 yuan/mt, and hot-rolled prices at 12,300-12,500 yuan/mt. Among them, 304 CRC prices decreased by 150 yuan/mt, and 304 HRC prices decreased by 50 yuan/mt...

[SMM Analysis: The Price of the Most-Traded SS 2502 Contract Declined Significantly This Week. Slight Increase on Monday] The macro front was influenced by the US Fed this week. The reserve balances in the US banking system have fallen to their lowest level since October 2020, dropping below the $3 trillion mark, which impacts the US Fed's decision to continue reducing its balance sheet...

SMM Data: Overall Stainless Steel Production in December Showed a Noticeable Increase, Mainly Reflected in the 400-Series Stainless Steel According to the SMM survey, the total stainless steel production in China in December 2024 increased by approximately 1.1% MoM, up 6.53% YoY, with a cumulative YoY increase of about 3.03%. Among them, the production of 200-series stainless steel rose by approximately 3.35% MoM, 300-series increased by about 1.01% MoM, and 400-series grew by around 10.10% MoM...

Focusing on production and operation targets, efforts have been continuously made in multiple areas, including optimizing mine layout, upgrading and optimizing crushing and sorting processes, and enhancing the level of refined management, to fully boost production and efficiency. Continuous efforts have been made to strengthen ore supply and stockpile management, achieving a stripping execution rate of over 90%, with the stockpile of blasted ore in the mining area consistently maintained at over 1.3 million mt.