Latest Update in the SMM Pig Iron Market

The steel scrap purchase price adjustment of Anyang Iron & Steel in Henan has been updated today. If needed, feel free to contact us!

[SMM Stainless Steel Spot Daily Review: Stainless Steel Market Prices Rise With Increased Volume, Futures and Spot Both Active] On March 6, in the stainless steel spot market, prices rose, and transactions improved. Prices for the 200-series and 300-series mostly increased. The prices of 201/2B coils in Wuxi, Foshan, and the nationwide average were 7,735 yuan/mt, 7,800 yuan/mt, and 7,858 yuan/mt, respectively, with increases ranging from 10-50 yuan/mt. Prices for 304 coils of various specifications in Wuxi and Foshan, both mill edge and slit edge, showed varying degrees of increase, and the nationwide average price also rose. Some specifications of 316L experienced slight price fluctuations. Overall, the market exhibited an upward trend.

[SMM Analysis: Stainless Steel Inventory Declines, Market Pressure Slightly Eases] SMM data shows that from February 27 to March 6, 2025, the weekly inventory in the Wuxi and Foshan stainless steel markets experienced some fluctuations. Overall inventory decreased to 1.0054 million mt, down 0.49% WoW. Performance across different series varied in the two regions: in Wuxi, the inventory of 200-series and 400-series decreased, while 300-series increased; in Foshan, the inventory of 200-series and 300-series decreased, while 400-series increased.

Today, DCE iron ore futures continued to fluctuate downward. The most-traded I2505 contract finally closed at 771 yuan/mt, down 1.34% throughout the day. Traders remained cautious, with some halting offers; steel mills showed stronger wait-and-see sentiment, with fewer inquiries; and the market transaction atmosphere was sluggish.

SMM Rebar Daily Review: Macro Sentiment Dominates Price Fluctuations, Market in Wait-and-See Mode Affected by rumors, rebar futures experienced significant volatility today. The most-traded 2505 contract reached a high of 3,299 and a low of 3,254, closing at 3,282 yuan/mt, up 0.43% from the previous trading day. On the spot side, early morning prices in various regions mostly held steady, with moderate trading at lower prices. In the afternoon, as the futures market fluctuated, sentiment turned cautious, and transactions weakened compared to the morning.

Domestic Iron Ore Brief: Liaoxi Region Iron Ore Concentrates Prices May See Weak and Stable Fluctuations Liaoxi domestic iron ore concentrates prices slightly declined by 5-10 yuan, with the 66 grade wet basis ex-factory price without tax at 730-735 yuan/mt. Affected by the price reduction from the leading local steel mill, the overall market transactions were relatively quiet; the Two Sessions are in session, although explosives supply is normal, mines and beneficiation plants noted that safety inspection intensity has significantly increased in recent days, with some mines halting production for maintenance, putting local iron ore concentrates resources in a tight state.

[SMM HRC Weekly Balance & Social Inventory Overview] Supply Pressure Eases Significantly, Social Inventory Finally Declines! With environmental protection measures combined with new maintenance plans at some steel mills, HRC production saw a noticeable reduction. Futures fluctuated downward this week, and the market mainly focused on purchasing as needed. Supply remained weak, and social inventory declined slightly MoM. Looking ahead, additional maintenance plans are expected at some steel mills, keeping supply pressure relatively small in the short term. After the Two Sessions, end-use demand is expected to steadily recover, and nationwide social inventory is likely to continue declining in the short term.

This week's HRC social inventory was 2.8959 million mt (down 12,500 mt WoW, -0.43% WoW, -11.56% YoY, -5.05% YoY on a lunar calendar basis). This week's HRC in-plant inventory was 1.1815 million mt (down 2,500 mt WoW, -0.21% WoW, -0.64% YoY, +2.07% YoY on a lunar calendar basis). This week's total HRC inventory was 4.0775 million mt (down 15,000 mt WoW, -0.37% WoW, -8.65% YoY, +0.58% YoY on a lunar calendar basis).