[Steel Tender Update - High-Carbon Ferrochrome] HBIS Group has initiated the tender for medium-carbon ferrochrome and low-carbon ferrochrome in mid-January 2025. It is reported that the tender quantity for medium-carbon ferrochrome is 900 mt (HBIS Handan 800 mt, Zhangxuan Hi-Tech 100 mt); the tender quantity for low-carbon ferrochrome is 1,580 mt (HBIS Shisteel 700 mt, HBIS Wusteel 500 mt, HBIS Tangsteel New District 280 mt, Zhangxuan Hi-Tech 100 mt). The bidding deadline is 10:00 AM on January 8, 2025, and the delivery date is required to be before January 31, 2025.

China's M2 Money Supply Up 7% YoY in January [SMM Steel Market Morning News]: According to data from the central bank, at January month-end, the balance of broad money (M2) was 318.52 trillion yuan, up 7% YoY. The balance of narrow money (M1) was 112.45 trillion yuan, up 0.4% YoY. The balance of currency in circulation (M0) was 14.23 trillion yuan, up 17.2% YoY. Net cash injection for the month was 1.41 trillion yuan.

[SMM Steel Market Morning News: The Third Session of the 16th Beijing Municipal People's Congress to Be Held on January 14] The Third Session of the 16th Beijing Municipal People's Congress will be held on January 14, 2025. The proposed agenda includes: hearing and reviewing the Beijing Municipal Government Work Report...