Latest Update in the SMM Finished Steel Market

Today's steel scrap purchasing price adjustment for Anyang Steel in Henan has been updated, feel free to contact us if you need!

SMM Steel Mill Guidance Price: Guidance Prices for Various Series of Large Domestic Stainless Steel Mills on March 26.

Today, DCE Iron ore futures gradually strengthened from a weak start, fluctuating upward throughout the day. The most-traded contract I2505 finally closed at 780, with a daily increase of 0.19%. Traders sold goods according to market conditions, while steel mills purchased as needed. The market transaction atmosphere was moderate.

Valin: Steel Industry Downstream Demand Orders Showed Improvement MoM, 2024 Net Profit Down 59.99% YoY. Valin responded: From an industry perspective, the supply-demand imbalance in the steel industry remains prominent, and steel enterprises face severe challenges in production and operation. However, since the Chinese New Year, downstream demand orders in the steel industry have shown improvement MoM. The manufacturing sector has become the main driver supporting steel demand, especially with the accelerated development of new energy and high-end equipment manufacturing, which may boost demand for corresponding steel varieties. Additionally, influenced by low inventory levels, steel prices have been stronger than raw material prices such as coking coal and coke, which helps to restore the profitability of steel enterprises.

SMM Rebar Daily Review: Market Sentiment Diverged, Spot Cargo Fluctuated Rangebound. Rebar futures fluctuated rangebound today, closing at 3,209 points, up 0.06%. Spot side, most regional markets opened with stable offers in the morning, trading atmosphere was moderate during the session, and some markets saw slight price adjustments in the afternoon, with overall trading volume remaining moderate throughout the day...

【Domestic Iron Ore Brief Review: Iron Ore Concentrates Prices in Western Liaoning May Remain Stable】The domestic ore market in western Liaoning has seen improved transactions. Influenced by the recent rise in iron ore futures, local iron ore concentrates prices have shown a slight increase. Some local beneficiation plants require funds for turnover and are selling small quantities at market prices. Overall, there is a strong bullish sentiment in the mines and beneficiation plants, and local iron ore concentrates resources are relatively tight.

SMM Stainless Steel Spot Daily Review: Stainless Steel Prices Remain Firm on March 26, Market Watchful with Moderate Sales. On March 26, stainless steel prices remained firm and showed an upward trend. Although downstream demand fell short of expectations and transactions were moderate, some downstream users restocked due to rigid demand as month-end approached. The most-traded contract 2505 fluctuated rangebound, with SS2505 fluctuating rangebound between 13,380 and 13,410 yuan throughout the day. Short-term market prices are expected to fluctuate rangebound, and the subsequent trend will depend on the volume of downstream demand.