SMM

SMM Steel Morning Meeting Summary: Raw Material Prices Remain Relatively Firm, but Downstream Demand for Finished Products Is Moderate. Mainstream steel mills in Shandong accepted the first round of coke price increases of 50-55 yuan/mt. In terms of supply, coke producers' profits improved, overall production enthusiasm was moderate, shipments were smooth, inventories continued to decline, and sales pressure was relatively small. On the demand side, market bearish sentiment gradually dissipated, pig iron production at steel mills continued to rebound, blast furnace operations were favorable, and there remained strong restocking demand for coke.