On April 17, SMM reported that a major Indonesian stainless steel mill increased the price gap between 304 and 316L series from $1,800/mt to $1,850/mt. The widening spread is driven by the soaring price of molybdenum, a key element in 316L. Research indicates that molybdenum concentrate supply remains tight due to aging mining equipment, environmental production curbs, and export restrictions in major producing countries. Simultaneously, surging demand from aerospace and defense industries has further pushed up molybdenum product prices. Additionally, Indonesia's new nickel pricing formula and geopolitical risks have collectively raised the overall cost benchmark for the 300-series.

[SMM Daily Review on Coal and Coke] In terms of supply, affected by losses and environmental protection policies, some coke enterprises have expanded the scope and intensity of production restrictions, with operating rates remaining average. On the demand side, some steel mills have resumed blast furnace production, leading to an increase in purchase willingness for coke. However, most steel mills maintain coke inventories at safe levels and continue to purchase as needed. In summary, the Two Sessions policies did not exceed market expectations. Coupled with the steel mills' desire to bargain down prices for coke, the coke market is expected to operate stable with a weak trend in the short term, with the eleventh round of coke price cuts still anticipated to materialize.

Aluminum plays a pivotal role in numerous industries, making its price fluctuations a subject of significant interest. Understanding the dynamics of the aluminum market is essential for businesses and investors alike. This article explores the key factors influencing aluminum prices, historical trends, and the impact of economic policies.

SMM data showed that the PMI for China’s aluminum processing sectors dipped 3.7 points MoM to 43.6% in December, remaining below 50%.