Latest Update in the SMM Pig Iron Market

Today, DCE iron ore futures continued to trade in the doldrums, with the most-traded contract I2509 closing at 703.5, down 0.78% for the day. Traders' enthusiasm for selling was moderate; steel mills had largely completed their pre-holiday inventory restocking, resulting in fewer inquiries. The market trading atmosphere was moderate.

[SMM Rebar Daily Review: How Will Prices Trend After the Holiday as Downstream Stocking Demand is Released Before the Holiday?] Today, rebar futures fluctuated and closed at 3,096, down 0.42% from the previous trading day. On the spot cargo side, as the market gradually entered the holiday period, spot cargo quotes in various regions were largely stable, with prices in some regions easing by 10-20 yuan/mt, and overall trading performance was average.

【Brief Review of Domestic Iron Ore Market: Iron Ore Concentrates Prices in Tangshan Region May Remain in the Doldrums】The trading activity in Tangshan's iron ore concentrates market is sluggish. The delivery-to-factory prices for 66% grade dry-basis iron ore concentrates, inclusive of tax, range from 940 to 950 yuan/mt. Producers are adopting a wait-and-see attitude, with spot cargo holders maintaining firm asking prices. However, some are considering destocking a small amount before the holiday. As the holiday approaches, individual steel mills have shown an increased willingness to restock, but considering profit margins, there are few inquiries for price increases.

【SMM Steel Mill Guidance Price】Guidance prices for various series of domestic large stainless steel mills on April 30: Adjustments were made before the holiday.