SMM

【SMM Steel Morning Meeting Summary: Market Sentiment Remains Pessimistic, Finished Steel Prices Down Significantly MoM】Fundamentally, supply side, BF and EAF steel mill operations continued to diverge this week. Currently, some BF steel mills in north-west and south-west China are underperforming, while BF steel mills in other regions still maintain some profitability and continue normal production, with pig iron production increasing. EAF steel mills saw profitability decline due to falling market prices, leading several mills to reduce operating hours, resulting in a slight decrease in supply. Overall, building material supply is expected to remain stable.