[Domestic Iron Ore Brief Commentary: Iron Ore Concentrates Prices in the Tangshan Area May Have Some Room to Move Higher] The Tangshan domestic ore market saw a wait-and-see stance in supply and demand, with environmental protection-related controls constraining beneficiation production; overall iron ore concentrates resources were relatively tight, and beneficiation plants holding cargo showed strong bullish sentiment. The local delivery-to-factory price, tax included, for 66 grade iron ore concentrates (dry basis) was 970-980 yuan/mt. Steel mills, recently affected by production restrictions, saw a noticeable phased decline in overall hot metal, but it is expected to gradually return to normal next week, so demand support for iron ore concentrates remains. In addition, the recent trend in iron ore futures prices

[SMM Titanium Express] Yunnan National Titanium Metal issued a price adjustment notice. Based on current market conditions, effective March 10, all grades of sponge titanium prices will increase by RMB 2,000/ton for domestic market and USD 300/ton for overseas market.

[Tungsten Industry Long-Term Contract Information] SMM, March 10: It is reported that a tungsten company in Guangdong released the long-term contract prices for the first half of March. The unit price of black tungsten concentrate with a grade above 55% was 955,000 yuan/standard tonne (65%WO3 basis), up by 225,000 yuan/standard tonne (65%WO3 basis) from the second half of February. The unit price of scheelite concentrate with a grade above 55% was 954,000 yuan/standard tonne (65%WO3 basis), up by 225,000 yuan/standard tonne (65%WO3 basis) from the second half of February. The unit price of ammonium paratungstate was 1,410,000 yuan/mt, up by 340,000 yuan/mt from the second half of February. Note: The above prices all include 13% VAT.

In the short term, overseas geopolitical conflict headlines continued, increasing uncertainty in energy-sector price fluctuations, while domestic macro conditions still had expectations for policy tailwinds. Back to steel fundamentals, as downstream procurement demand release remained relatively cautious and the destocking inflection-point cycle had not yet emerged, finished steel lacked strong drivers. Steel prices are expected to fluctuate within a range in the short term, tracking cost trends. After the Two Sessions conclude in mid-to-late month, if demand still fails to drive a rapid drawdown in inventory, steel prices face the risk of a pressured pullback.

National Bureau of Statistics: In February, the CPI rose 1.3% YoY; ex-factory prices for industrial producers fell 0.9% YoY.

Coal prices rallied to $138 per ton in early March 2026, a 15-month high, following an Iranian drone strike on Qatar's main LNG export hub. The rare shutdown of 20% of global LNG supply has forced Asian economies, including Taiwan, to switch to coal-fired power generation, tightening the global thermal coal market.

[SMM Aluminum Morning Meeting Minutes: Geopolitical Risks in the Middle East Cool Significantly; Aluminum Prices to Fluctuate at Highs in the Short Term] Overall, from a macro perspective, easing geopolitical risks and the continued buildup of domestic social inventory have created bearish pressure on aluminum prices. However, the geopolitical situation in the Middle East remains unclear; if the conflict persists, expectations for a tightening of global aluminum supply are strong, and aluminum prices still have solid upward momentum. In the short term, aluminum prices are still expected to hold up well.

[SMM Aluminum Alloy Daily Review] Futures, the aluminum alloy 2604 contract bottomed out intraday and then rebounded. After opening lower in the morning session, it quickly dipped to 23,295 yuan/mt before fluctuating upward. In the afternoon, bulls stepped up, and prices rose steadily, pulling back slightly toward the close to end at 23,680 yuan/mt, up 0.04%. Spot cargo, secondary aluminum alloy enterprises generally revised their quotes downward, with most cuts in the 100–300 yuan/mt range. During the week, volatility intensifies in futures and downstream wait-and-see sentiment strengthened, prompting some enterprises to slightly lower quotes to control order-taking risks. Meanwhile, tight supply of aluminum scrap raw materials and elevated procurement costs provided strong support for pr

On March 10, SMM #1 refined nickel prices rose by 2,700 yuan/mt from the previous trading day. Spot premiums: the average for Jinchuan #1 refined nickel was 6,650 yuan/mt, down 600 yuan/mt from the previous trading day; the range for domestically mainstream brands of electrodeposited nickel was -300-400 yuan/mt.

On March 9, the average SMM battery-grade nickel sulphate price was flat WoW from last Friday.