SMM

【SMM Steel Morning Meeting Summary】According to SMM statistics, the impact from maintenance on pig iron production from blast furnaces decreased to 969,000 mt this week, down 191,300 mt MoM. The impact from maintenance on blast furnaces next week is expected to decrease by 36,800 mt MoM from this week, indicating that this round of pig iron growth is nearing its end, with limited room for further increases. Although the US-China tariff policy continues to disturb market sentiment, as the month-end Politburo meeting approaches, expectations for macro policy are heating up, providing support for ore prices.