Latest Update in the SMM Steel Billet Market

Today, the DCE iron prices fluctuated within a narrow range, with the main contract I2605 closing at 760.5, down 0.33% compared to the previous trading day. Traders adjusted their sales strategies based on market conditions.

According to an SMM survey, SMM’s large-caliber HRC inventory in Ningbo stood at 327,900 mt as of 12.10, up 3,900 mt WoW.This week HRC prices fluctuated downward; spot prices fell 40-90 yuan/mt WoW, and overall market sentiment stayed weak. By the 12.12 afternoon close, the most-traded HRC 2605 contract settled at 3,232 yuan/mt.

[Domestic Iron Ore Brief: East Liaoning Iron Ore Concentrates Prices May Be in the Doldrums] The domestic ore market in East Liaoning remained generally stable. Influenced by the weak market trend in the Tangshan area, the current ex-factory price for 66% grade iron ore concentrates on a wet basis, excluding tax, is reported at 740-750 yuan/mt. Traders' risk aversion sentiment has intensified, with most adopting a cautious wait-and-see approach, and inquiries to drive down prices are evident.