According to SMM data, as of May 30, the average cold-hot price spread nationwide was 443 yuan/mt, down 1.0% WoW from the weekly average, and down 27.5% MoM from the monthly average. However, recently, the cold-hot price spread, which had been falling rapidly since early April, finally showed signs of stopping falling and stabilizing. According to the data, the average cold-hot price spread in late May was 455 yuan/mt, up 1.6% WoW from the first half of the month.

Jingye Group's High-Grade Steel Technology Successfully Produces DC56D+Z Deep Drawing Steel Recently, the No. 4 galvanizing unit of Jingye Group's High-Grade Steel Technology Company successfully produced DC56D+Z deep drawing steel, which not only expanded the range of orders but also enhanced the market competitiveness of high-grade cold-rolled steel products. DC56D+Z is a hot-dip galvanized steel sheet for stamping, featuring excellent formability and corrosion resistance. It is widely applicable in various industries such as automotive, home appliances, and construction, with significant market demand and broad market prospects. To ensure the smooth production of DC56D+Z deep drawing steel, the Group's Technology Research Center, the High-Grade Steel Technology Research Department, and the production workshop jointly discussed and formulated a production plan. During the production process, parameters such as annealing temperature, finishing rolling force, and elongation were continuously adjusted, ultimately successfully producing a product with a yield strength of 140 MPa, accumulating valuable experience for subsequent normal production.

[SMM Hot Topic] The US Raises Tariff by 25% on Steel and Aluminum Imports from All Countries! How Will It Impact China's Steel Exports? According to data from the General Administration of Customs, China's cumulative steel exports reached 110.716 million mt in January-December 2024, up 22.7% YoY. China's steel exports continued to grow in 2024, approaching the highest level in nearly a decade. However, the share of exports to the US remained below 1%, further declining from 2023 to just 0.8%. China's steel exports have also been expanding to new destinations, with more shipments reaching ASEAN countries and regions along the Belt and Road. Therefore, overall, the tariff hike has a relatively small impact on China's direct steel product exports. However, the earlier 10% tariff hike on all Chinese exports to the US, including downstream steel products such as construction machinery, household appliances, and NEVs, could restrict the export of these products due to higher tariffs, thereby affecting the scale of indirect steel exports.