Supply glut, cautious demand, and fading cost support drag the benchmark contract down RMB 205/mt in the week of March 30 – April

【SMM Steel】UMB Steel chose SARRALLE to develop a modern meltshop at the Oțelu Roșu plant, restarting after 12 years. Annual target: ~700,000 t of rebar, wire rod, and compact coils. SARRALLE will integrate KR-MELT® with vertical scrap preheating. The airtight design captures fumes/dust, improving environmental standards. The setup reduces energy use and boosts productivity. The partnership supports efficient, sustainable production in Romania.

【SMM Steel】Hyundai Steel issued FAC to SMS group after upgrading its Dangjin #1 CGL. The two-phase project integrated X-Pact® automation and upgraded hydraulics to improve strip quality and stability. Stage 1 added a new strip washer/dryer. Stage 2 focused on the skin-pass mill for precise flatness. The upgrades reduce downtime and extend equipment life, building on a partnership since 2005.

[Three Consecutive Monthly Sales Championships, SAIC Sold 973,000 Vehicles from January to March] SAIC released its latest sales data. In March, it achieved vehicle sales of 376,000 units, successfully securing “three consecutive monthly sales championships” since the start of this year; from January to March, cumulative wholesale sales reached 973,000 units, up 3% YoY, maintaining a steady upward trend; retail sales reached 1.008 million units, making it the only automaker in China’s auto industry to surpass 1 million sales in Q1.

[SMM Daily Brief Review of Coking Coal and Coke] In terms of supply, most coke producers maintained relatively stable operating rates, and downstream buyers showed moderate enthusiasm for coke procurement, with smooth shipments from coke producers and no obvious inventory pressure for the time being. On the demand side, steel mills were currently in the stage of blast furnace production resumptions, increasing rigid demand for coke, but no significant improvement was seen in end-use demand for finished steel products, market sentiment weakened, and steel mills' purchase willingness declined somewhat. In summary, the first round of coke price increases was officially implemented, but market sentiment pulled back recently, most steel mills had moderate coke inventories, the coke supply-demand structure gradually shifted toward balance, and the coke market may remain generally stable with slight rise in the short term.

New Delhi quietly renewed BIS certification waivers through September 2026, even as it talks tough on Chinese overcapacity. The contradiction reveals more about India's industrial gaps than its trade policy convictions