Latest Update in the SMM Pig Iron Market

Today, DCE opened lower and rebounded slightly. The most-traded contract I2505 finally closed at 788.5, with a daily decline of 0.32%. Traders followed the market to sell goods, while steel mills' wait-and-see sentiment intensified, and inquiries were average. The market transaction atmosphere was sluggish. In Shandong, the mainstream transaction prices of PB fines were around 785-787 yuan/mt, down 2-3 yuan/mt from yesterday.

【SMM Steel Mill Guidance Price】On April 3, the guidance prices for various series of domestic large stainless steel mills remained stable before the holiday.

【SMM HRC Weekly Balance & Social Inventory Overview】Pre-holiday Restocking Demand Fell Short of Expectations, Social Inventory Reduction Narrowed This week, the impact of maintenance continued to weaken, and HRC supply increased slightly. Futures fluctuated downward. Although it was the eve of the Qingming Festival, the weak market sentiment led to poor trading atmosphere. Meanwhile, steel mills actively shipped, and the decline in social inventory narrowed. Looking ahead, there are relatively fewer rolling lines under maintenance or planned for maintenance in the short term, and supply pressure is expected to rebound. Domestic end-use demand may maintain resilience in April, but export risks should be monitored, and resource reflux should be approached with caution. It is expected that the national social inventory will continue to decrease in the short term...

The purchase price adjustment for steel scrap at Anyang Steel in Henan was updated today. Please feel free to contact us if needed!

【SMM Steel Mill Guidance Price】On April 2, the guidance prices for various series of domestic large stainless steel mills were updated, with Dongfang Special Steel and Zhangpu raising their prices.

SMM Stainless Steel Spot Daily Review: Weak Downstream Purchase Willingness, Cost-Driven Price Resilience. On April 2, the activity in the stainless steel spot market was lackluster, with weak downstream purchase willingness. The most-traded futures contract 2505 fluctuated at a high level, with the SS2505 quoted at 13,570 yuan/mt, up by 65 yuan/mt. In the spot market, prices for 200-series and 316L hot-rolled coils rose, while 304 remained stable. The prices for 201/2B, 316L, and 430 cold-rolled coils, as well as 316L hot-rolled coils, varied in Wuxi and Foshan. Due to cost support, the current transactions were moderate. It is expected that subsequent downstream demand will increase, coupled with cost support, stainless steel prices will remain resilient.

Today, the DCE continued to fluctuate upward. The most-traded contract I2505 closed at 791.5, with a daily increase of 1.09%. Traders sold goods according to market conditions, while steel mills restocked as needed, with moderate purchase willingness. The market trading atmosphere was generally flat. In Shandong, the mainstream transaction prices of PB fines were around 785-790 yuan/mt, stable compared to yesterday. In Tangshan, the transaction prices of PB fines were around 800 yuan/mt, also stable compared to yesterday.