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- Ukraine Issued the Final Ruling of the Sunset Review on Anti-Dumping Measures Against Steel Wire Ropes and Cables from China
On March 14, 2026, the Interdepartmental Commission on International Trade of Ukraine issued a notice stating that, pursuant to Resolution No. AD-598/2026/441-01 of the Commission dated March 10, 2026, it had made an affirmative final ruling in the third sunset review of the antidumping measures on steel wire ropes and cables originating in China, and decided to continue imposing antidumping duties on the products concerned for another five years at an unchanged rate of 123. The period of investigation in this case was from January 1, 2022 to March 31, 2025. The Ukrainian tariff codes of the products concerned were 7312 10 49 00, 7312 10 81 00, 7312 10 83 00, 7312 10 98 00, and 7312 10 65 00. The measures took effect from the date of publication of the notice. On August 17, 2007, Ukraine initiated an antidumping investigation into steel wire ropes and cables originating in China. On July 23, 2008, pursuant to Resolution No. AD-183/2008/143-48 of the Ukrainian Commission, Ukraine began imposing antidumping duties on the Chinese products concerned. Thereafter, Ukraine conducted two sunset reviews, and made affirmative rulings and extended the duty period on September 19, 2014 and May 28, 2020, respectively. On August 24, 2022, the Interdepartmental Commission on International Trade of Ukraine issued a notice amending the product description of Chinese steel wire ropes and cables as determined in Resolution No. AD-183/2008/143-48 dated July 23, 2008. Upon application by a Ukrainian producer, and pursuant to Resolution No. AD-582/2025/441-01 of the Commission dated May 21, 2025, Ukraine initiated the third sunset review investigation of the antidumping measures on the Chinese products concerned. (Compiled from: Ukrainian Government Website) Source: https://ukurier.gov.ua/uk/news/povidomlennya-201/
Mar 18, 2026 13:44 - [SMM Daily Brief Review of Coking Coal and Coke] 20260318
[SMM Coking Coal and Coke Daily Brief Review] In terms of supply, coking costs increased and losses widened somewhat. At present, coke producers were barely maintaining normal operating rates, while coke production remained temporarily stable. Meanwhile, downstream demand for coke increased, and coke producers' shipments improved somewhat. On the demand side, steel mills were in an active phase of resuming production, while finished steel prices fluctuated upward and steel mill profitability improved somewhat, boosting production enthusiasm and increasing demand for coke. In summary, the fundamentals of coke supply and demand developed in a positive direction, and the coke market may remain generally stable with slight rise in the short term.
Mar 18, 2026 13:34 - SHFE Tin Contract Traded Sideways Around the 370,000 Threshold, with Market Sentiment Remaining Predominantly Cautious Ahead of the Interest Rate Cut Decision [SMM Tin Commentary]
[SMM Tin Commentary: The SHFE Tin Contract Consolidated Near the 370,000 Level, with Market Sentiment Remaining Predominantly Cautious Ahead of the Interest Rate Cut Decision]
Mar 18, 2026 17:54 - Middle East Oil Prices Surge Past $150! Everything You Need to Know: Is Iran’s Threat About to Become Reality?
Iran’s threat to drive oil prices up to $200 a barrel may sound like hyperbole, but as the energy crisis persisted, that outcome already looked more likely than US President Trump’s prediction that oil prices would soon pull back to pre-war levels… The conflict involving Israel and the US against Iran entered its third week — and escalated into one spanning the entire Middle East — yet the global oil benchmark’s response so far was surprisingly “mediocre.” Brent crude oil was currently trading near $100 a barrel, up about 65 from the start of the year. Although that level would have been unimaginable just a few weeks ago, it still remained below last Monday’s brief peak of nearly $120. Given that since the conflict began, the effective closure of the Strait of Hormuz had trapped about one-fifth of global oil supply — roughly 20 million barrels a day — crude oil prices should, in theory, have been much higher. That seemed to suggest investors still retained a degree of trust in Trump , betting that the crisis would be resolved quickly and that the Strait of Hormuz would soon reopen — whether it was called the “Trump put,” the “TACO trade,” or “buy Trump,” many oil traders appeared to be wagering that the president would ultimately be able to limit the market damage. “When this is over, oil prices will come down very, very quickly,” Trump said on Monday this week. Yet that optimism looked increasingly difficult to reconcile with realities on the ground — whether on a battlefield where the conflict was intensifying, or in the physical oil market, where supply bottlenecks were steadily spreading. Signals Being Overlooked In fact, the physical crude oil market was sending an increasing number of stress signals, even though the international benchmark “paper oil” market had so far largely ignored them. Although trade had stalled under the impact of the Iran conflict, Middle Eastern crude benchmarks still surged to record highs, making them the most expensive crude in the world. The spike in these benchmark indicators, which are used to price millions of barrels of Middle Eastern crude sold to Asia, was raising costs for Asian refiners and forcing them to seek alternatives or make further production cuts in the coming months. S&P Global Platts said Dubai spot crude assessments for May-loading cargoes hit a record $157.66 a barrel on Tuesday, surpassing the previous all-time high of $147.5 set by Brent crude oil futures in 2008. That left Dubai crude’s premium to swaps at $60.82 a barrel, compared with an average premium of just 90¢ in February. Meanwhile, Oman crude oil futures hit a record high of $152.58 per barrel on Tuesday, with its premium to the Dubai swap set at $55.74 per barrel, versus an average premium of just 75¢ in February. Oman crude oil is exported from a terminal outside the Strait of Hormuz. This surge reflected massive uncertainty over actually available supply in the Middle East after Iran repeatedly attacked Oman's oil terminal and the UAE's major oil export terminal of Fujairah outside the Strait of Hormuz. Are Brent and WTI Failing to Reflect the "True Severity" of the Oil Market? As JPMorgan's head of commodities, Natasha Kaneva, pointed out in her latest research note on Tuesday , there was a clear mismatch between international benchmark crude pricing and the Middle Eastern geography of the supply disruptions. The core issue was that Brent and WTI are benchmark indicators at opposite ends of the Atlantic basin, while the current shock is concentrated in the Middle East. As a result, these benchmark crude prices were particularly influenced by relatively loose regional fundamentals—commercial oil inventory in both the US and Europe were ample in early 2026, and supply across the Atlantic basin was also relatively abundant in the short term. In addition, expectations for a release from the US Strategic Petroleum Reserve (SPR)—as well as a partial release that will soon materialize—further eased prompt tightness in Brent- and WTI-linked markets. By contrast, Middle Eastern crude benchmarks such as Dubai and Oman more accurately reflected the current dislocation in the physical market. Dubai and Oman spot prices were both trading above $150 per barrel, underscoring the severity of crude oil shortages originating in the Gulf region. These Middle Eastern oil prices were directly affected by export disruptions and therefore more effectively reflected marginal supply deficits than Atlantic-linked crude prices. Crucially, trade geography intensified this dynamic. Most of the crude transported via the Strait of Hormuz goes to Asia—before the outbreak of the Middle East conflict, about 11.2 million barrels of crude and 1.4 million barrels of refined products flowed through the strait to Asia each day. As a result, the direct physical shortage—and the surge in oil prices—was concentrated in Asian markets most dependent on Gulf crude. In fact, early signs of demand destruction had already emerged in Asia as product prices surged and spot crude became prohibitively expensive. JPMorgan noted that timing effects further reinforced this divergence. A typical voyage from Gulf Cooperation Council (GCC) countries to Asia takes about 10 to 15 days, while cargoes bound for Europe via the Suez Canal require nearly 25 to 30 days, or 35 to 45 days if rerouted around the Cape of Good Hope. Therefore, the impact of disrupted Gulf flows would hit Asian markets sooner and more severely, while Atlantic Basin benchmarks such as Brent and WTI would enjoy a longer buffer because of surplus inventory and slower supply adjustments. The US, with crude oil production exceeding 13 million barrels per day, would be affected the least. JPMorgan believed that, in this context, the apparent price stability shown by Brent and WTI should not be taken as evidence of adequate global supply. It reflected a temporary buffer created by regional surplus inventory, benchmark composition, and policy intervention. In fact, for refiners, especially those in Asia, the current crude oil shortage had already become a serious problem. About 60% of the region’s crude oil imports depended on the Middle East, and the difficulty of finding alternative, timely supplies was rapidly becoming acute. The pressure had already forced many countries into painful adjustments. Refiners across Asia had begun cutting run rates to conserve dwindling inventory. Some countries had banned exports of refined products, a defensive move that could further tighten the global market. As the crude oil shortage worsened, refined product prices surged. Asian jet fuel prices were approaching $200 a barrel, near the record high of about $220 reached earlier this month. The Crisis Could Spread Further Ultimately, this crisis was expected to extend beyond Asia. Data from analytics firm Kpler showed that Europe accounted for about three-quarters of Middle Eastern jet fuel exports shipped through the Strait of Hormuz last year—about 379,000 barrels per day—but since the conflict began, no such cargoes had passed through the strait. Unsurprisingly, jet fuel barge prices in the Amsterdam-Rotterdam-Antwerp refining hub had surged to a record $190 a barrel, exceeding the previous peak set after the Russia-Ukraine conflict in February 2022. The comparison with the Russia-Ukraine crisis may be even more compelling. Before the outbreak of the Russia-Ukraine conflict in 2022, Russia supplied about 30% of Europe’s crude oil imports and one-third of its refined product imports. As traders feared Europe would lose supplies from one of the world’s largest oil producers, Brent crude rose to $130 a barrel after the Russia-Ukraine conflict—even though that worst-case scenario never fully materialized in the end. By contrast, according to Morgan Stanley, the physical disruption caused by the Iran conflict had already exceeded that level of concern by more than threefold. Even if the Strait of Hormuz were to reopen immediately, it would not bring immediate relief. According to the International Energy Agency, about 10 million barrels per day of production in the Middle East has been shut in since the conflict began. Restoring these flows will take weeks, if not months. To be sure, the oil market entered the Iran conflict in a relatively loose state, and the International Energy Agency had projected that global supply would exceed demand by about 3.7 million barrels per day. But that surplus has now been erased by the current turmoil. Last week, the International Energy Agency announced plans to release a record 400 million barrels from member countries' strategic petroleum reserves, which will help cushion the initial shock. But drawing down inventories cannot substitute for deliveries of new oil. In other words, the supply shock to the oil market is real and may persist. Once the Strait of Hormuz finally reopens, oil prices could initially plunge in a relief rebound, but given the harsh realities of the physical market, traders may need to think twice before betting that the return to normalcy promised by Trump is about to arrive…
Mar 18, 2026 11:26 - [SMM Hot-Rolled Coil Arrivals] Arrivals in Mainstream Markets Increased Slightly WoW This Week
SMM Steel, February 24 – According to SMM statistics, the estimated total shipments to mainstream markets this week reached 302,700 mt, up 50.90% WoW. By market:
Mar 17, 2026 18:05 - [SMM Daily Chromium Review] Overseas Ore Prices Continued to Rise, While the Alloy Market Temporarily Remained Stable
[SMM Daily Chrome Review: Overseas Ore Prices Continued to Rise, While the Alloy Market Temporarily Remained Stable] March 18, 2026 News: Chrome ore prices continued to rise, while ferrochrome quotations saw no adjustment for the time being...
Mar 18, 2026 15:02
Announcements
SMM will launch two new price points for Indonesia 316L stainless steel, "Indonesia 316L/NO.1 Coil Mill Edge" and "Indonesia 316L/2B Coil Mill Edge," effective March 13, 2026.
PriceMar 11, 2026 18:14Dear User, Greetings! To assist secondary aluminum enterprises in accurately grasping the regional supply-demand pattern within the domestic market, obtaining real-time spot aluminum scrap price information from core production areas, effectively reducing information barriers and communication costs in transaction processes, and further improving the price system and research dimensions of the secondary aluminum industry chain, SMM, after multiple rounds of market surveys and data accumulation, plans to revise the content of the original price points. The specific update arrangements are as follows for market reference. Explanation of Modifications to the Original Aluminum Scrap Price Points: The content changes for the following four price points—Shredded Aluminum Tense Scrap (Foshan), Shredded Aluminum Tense Scrap (Anhui), Shredded Aluminum Tense Scrap (Changege), and Shredded Aluminum Cast Scrap (Foshan)—only involve supplementary modifications to the names, specifications, and definitions of the previous price points and do not affect the reference and viewing of corresponding historical prices. 1. Price Point Name: Shredded Aluminum Tense Scrap (Foshan) revised to Shredded Aluminum Tense Scrap Liquid Aluminum Price (Foshan) Specification: Water yield rate 90-93% revised to Water yield rate 90-93%, Copper >1.5% Definition: Transaction price, self pick-up price at goods yard revised to Liquid aluminum price, settled based on actual metal yield, guidance price for self pick-up at goods yards in the Foshan area. 2. Price Point Name: Shredded Aluminum Tense Scrap (Anhui) revised to Shredded Aluminum Tense Scrap Liquid Aluminum Price (Anhui) Specification: Water yield rate 90-93% revised to Water yield rate 90-93%, Copper >1.5% Definition: Transaction price, self pick-up price at goods yard revised to Liquid aluminum price, settled based on actual metal yield, guidance price for self pick-up at goods yards in the Anhui area. 3. Price Point Name: Shredded Aluminum Tense Scrap (Changege) revised to Shredded Aluminum Tense Scrap Liquid Aluminum Price (Changege) Specification: Water yield rate 90-93% revised to Water yield rate 90-93%, Copper >1.5% Definition: Transaction price, self pick-up price at goods yard revised to Liquid aluminum price, settled based on actual metal yield, guidance price for self pick-up at goods yards in the Changege area. 4. Price Point Name: Shredded Aluminum Cast Scrap (Foshan) revised to Shredded Aluminum Cast Scrap Liquid Aluminum Price (Foshan) Definition: Transaction price, self pick-up price at goods yard revised to Liquid aluminum price, settled based on actual metal yield, guidance price for self pick-up at goods yards in the Foshan area. Effective Time: The modifications to the aforementioned price points will be officially released starting November 12, 2025, and updated every working day. This revision aims to more accurately reflect market price levels through more refined grade classifications and provide market participants with more targeted decision-making references. Should you have any questions, please feel free to contact Chen Chichang at 021-51595820. SMM Aluminum Industry Research Team November 12, 2025
PriceNov 12, 2025 17:09To better serve industrial clients and more closely align with the market, SMM has added a weekly price for Vietnam 8mm copper cathode rod (CIF) processing fees, which will be officially launched on the SMM website (smm.cn) on December 19, 2025. 1. SMM 8mm Copper Cathode Rod Premium, CIF Vietnam, USD/tonne Methodology 1.1 SMM Price Assessment Methodology General Provisions Shanghai Metals Market (SMM) is a fully independent third-party service organization that does not participate in any actual transactions. Instead, it maintains close communication with buyers or sellers in the market as an observer or organizer and provides relevant services to the market. SMM continuously develops, reviews, and revises its methodology through communication with industry professionals, adopting the most common product specifications, trade terms, and trade conditions in the industry. Equal importance is given to normal transactions that meet the standard specifications. SMM reserves the right to exclude any price information deemed less reliable or unrepresentative from its price assessments. SMM publishes daily spot metal prices (or price indices, including those for the Chinese market, markets outside China, and global markets), commonly referred to as SMM prices. For each published SMM price, a corresponding methodology is established (all of which are available for reference on SMM’s official website, www.smm.cn). The methodology specifies the methods and procedures for generating and publishing SMM prices, and SMM strictly adheres to these guidelines when producing and releasing SMM prices. To align with the actual conditions of the spot market, SMM will make necessary revisions to the SMM price assessment methodology and announce these revisions on the official website www.smm.cn 28 days before their formal implementation. If you have any questions or suggestions regarding SMM prices or the methodology, please contact SMM customer service (contact information can be found on the official website www.smm.cn ). This document specifies the standards for formulating the weekly RC for 8mm Copper Cathode Rod Premium, CIF Vietnam, USD/tonne. The purpose of establishing this standard by SMM is to create a transparent and verifiable mechanism for SMM price formation. The SMM Benchmark Management Committee also regularly reviews the methodology and its assessment and publication processes. This committee oversees SMM’s methodology and compilation procedures, ensuring that the prices or indices accurately reflect the objective conditions of the physical spot market for the relevant commodities. If the committee identifies any issues, it will promptly highlight them and propose external consultation and revisions to the ongoing methodology or processes, thereby improving the quality of SMM’s published prices or indices. The committee may only propose modifications to the methodology and procedures used for future price or index assessments it cannot alter already published prices or indices. 2. Formation of Processing Fees for 8mm Copper Cathode Rod Premium, CIF Vietnam, USD/tonne. 2.1 Significance of the Price Assessment Against the backdrop of global economic integration, Vietnam is emerging as a significant driver of economic growth in Southeast Asia. On one hand, the accelerated investment in power infrastructure expansion, along with the increase in power transmission line and substation projects, has led to a surge in demand for copper rod as a core raw material. On the other hand, industrial upgrades are driving the rapid development of the electronics manufacturing sector, with numerous component and home appliance enterprises establishing operations, leading to a continuous expansion in demand for high-precision 8mm copper rod, and overall market demand is steadily rising. Under the Belt and Road cooperation framework, economic and trade ties between China and Vietnam are becoming increasingly close. Logistics channels such as cross-border railways and highways are continuously being optimized, making transportation more efficient. The implementation of policies such as tariff reductions further lowers trade costs and improves efficiency, laying a solid foundation for the expansion of the China-Vietnam copper rod trade scale. In light of this, SMM will officially launch the weekly price assessment for 8mm Copper Cathode Rod Premium, CIF Vietnam, USD/tonne starting December 19, 2025. SMM price members will be able to simultaneously access historical prices from that date. 2.2 SMM 8mm Copper Cathode Rod Premium, CIF Vietnam, USD/tonne Price Assessment Methodology 2.2.1 Product Specifications and Standards Product standards are BS EN 1997：2013 Copper and copper alloys. Copper drawing stock (wire rod)、ASTM B49-20 Standard Specification for Copper Rod for Electrical Purposes, product specifications are 8mm copper cathode rod (T1, T2), oxygen content greater than 20ppm. 2.2.2 Price Terms CIF Vietnam, Copper Cathode Rod Premium top on LME CSP, QP M+1（M stands for arrival month) 2.2.3 Payment Terms Cash, other terms normalized. Reference is made to major international payment methods (including D/P, D/A, T/T, etc.). If transactions significantly deviate from this standard, SMM will consider excluding individual samples based on trade volume. For deferred payments or letters of credit, SMM will adjust them according to the prevailing interest rate at the time to align with this standard. 2.2.4 Delivery Time Within 4 weeks. 2.2.5 Reference Transaction Volume Min 200 tones. 2.2.6 Delivery Location Main Ports of Vietnam 2.2.7 Price Release Time Every Friday at 11:30 AM Vietnam Time (except on Chinese statutory holidays and weekends). 2.2.8 Processing Fee Format Reported processing fees are provided as a range, indicating the lowest and highest prices. For example: 8mm Copper Cathode Rod Premium, CIF Vietnam, USD/tonne range $250-270/tonne, average: $260/tonne. 2.2.9 Price Collection Methodology SMM will, in accordance with the price collection confirmation agreement, have price analysts regularly collect price information from copper foil industry price contacts via phone, QQ, WeChat, fax, and email. This price information includes concluded transaction prices, the enterprise's expected most likely pending transaction prices, etc. All instant messaging content, email communications, and any records of face-to-face communications will be archived details of phone communications will be recorded and entered into the database. SMM analysts must comply with the Compliance System when reporting any forced or threatened communications from market participants, or any induced offers attempting to influence the assessment. Once published, SMM will not revise or adjust the price on the same day. 2.2.10 Standardization of Data Although SMM has standardized definitions for our prices, diversity exists in market transactions. The price of each transaction is influenced by numerous factors, including order size, brand of goods, delivery time, payment terms, etc. SMM will comprehensively consider market offers, bids, and transaction information, aligning them with our standards. Each price datum will be electronically recorded or accompanied by written records. All electronic and paper records must be archived by price collection personnel and retained long-term (at least 5 years) in secure network and physical environments. For details, please refer to the SMM Data Retention Policy. 2.2.11 Price Assessment Process The specific process is as follows: 2.3 Methodology Changes All markets change, and SMM has a responsibility to ensure that the methodology for market reports evolves with the market. Therefore, SMM will regularly conduct internal reviews of the methodology's appropriateness based on industry feedback. For all substantive but non-urgent potential modifications, SMM will follow a formal external consultation process. Major changes will then be announced with a notice period of at least 28 days, inviting industry comments, unless special circumstances, particularly force majeure (natural disasters, war, exchange bankruptcy, etc.), necessitate a shorter notice period. SMM is committed to carefully considering all comments on proposed methodology changes, but in some cases, it may be necessary to proceed with changes contrary to the wishes of some market participants. Additionally, SMM has a formal methodology consultation process. SMM commits to holding a formal consultation on the methodology every three years. The date of the last consultation and the deadline for the next consultation committed by SMM are located at the top of the methodology document. 2.4 Compliance with SMM Policies All relevant SMM employees must not only comply with the methodology published by SMM but also adhere to SMM's internal standards and policies. These include: SMM Conflict of Interest Policy, SMM Whistleblower Policy, SMM Error Correction Policy, SMM Methodology Review Consultation and Change Policy, SMM Complaints Policy, etc. Welcome more relevant enterprises in the industry chain to participate and support SMM in better serving related enterprises in the Copper Cathode Rod industry chain. For inquiries, please contact: Shanghai Metals Market Copper Research Team, Xinyang Wang Contact: 021-20707846, +86 15762822325
PriceDec 11, 2025 15:29