Latest Update in the SMM Pig Iron Market

Today, The DCE iron ore futures continued to fall sharply today. The most-traded contract rolled over to I2509, closing at 693, with a full-day decline of 3.48%. Traders showed weak willingness to sell; steel mills were cautious and had moderate purchase willingness; market transaction sentiment was poor.

Today, The DCE iron ore futures experienced a significant decline. The most-traded contract I2505 closed at 762.5, down 3.36% for the day, with reduced positions. Traders showed a weak willingness to sell, while steel mills remained cautious and observed the market, with weak inquiries. The market transaction atmosphere was sluggish.

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...