Based on current production conditions and in light of prevailing market demand, effective March 10, Yuk Kun, Xian Fu, Cheng Steel, De Sheng, and Heng Steel adjusted the price spreads among specification groups for construction steel.

【SMM Steel】The USDOC made a final affirmative AD determination on rebar from Algeria on Mar 3, 2026, covering Apr 1, 2024 - Mar 31, 2025. A 127.32% margin was set for Tosyali and all other Algerian exporters. Products include rebar in straight lengths or coils, all types, lengths, diameters, and grades.

March planned rebar production was 7.9565 million mt, an increase of 923,500 mt from February’s actual production, up 13.13%. March planned wire rod production was 3.1036 million mt, an increase of 466,300 mt from February’s actual production, up 17.68%. In March, the long steel export schedule for sample steel mills was 712,000 mt, an increase of 137,000 mt MoM; of which the steel billet export schedule was 270,000 mt, down 23,000 mt MoM.

March planned rebar production was 7.9565 million mt, an increase of 923,500 mt from February’s actual production, up 13.13%. March planned wire rod production was 3.1036 million mt, an increase of 466,300 mt from February’s actual production, up 17.68%. In March, the long steel export schedule for sample steel mills was 712,000 mt, an increase of 137,000 mt MoM; of which the steel billet export schedule was 270,000 mt, down 23,000 mt MoM.

Weekly Survey of Rolling Lines in Central China: This Period Still Saw Concentrated Production Resumptions at EAF Steel Mills, and Central China Construction Steel Production Rose Steadily

[ Yonggang 2026 Q1 Regular Steel Price Adjustment ] Yonggang's 2026 Q1 construction steel price adjustment: rebar and wire rod remained stable; current rebar at 3,450 yuan/mt, common wire at 3,700 yuan/mt, and coiled rebar at 3,700 yuan/mt; the monthly discount interest rate for electronic bank acceptance this period was 1.67 per thousand for first and second tier banks, 1.77 per thousand for provincial city commercial banks, and 1.97 per thousand for third and fourth tier banks. [ SMM Steel ]

This week, ferrous metals held up well within a narrow range. Over the weekend, turmoil in the Middle East and the escalation of the U.S.-Iran conflict triggered wild swings in the international energy market, sending energy and precious metals sharply higher, while ferrous metals—except coking coal and coke—mostly retreated after rapid rise following the open; mid-week, although there were bullish expectations around the Two Sessions, no new news emerged, the steel market remained relatively stable, and the pattern of raw materials outperforming finished steel products continued; in the latter half of the week, the Two Sessions’ macro conclusions met expectations, but had already been priced in by futures earlier, and high-level fluctuations in international oil prices continued to support raw materials, in turn pushing ferrous metals to edge higher on a steady footing. In the spot market, in the second week after the holiday, the market gradually resumed work and resumed production, but with insufficient momentum from futures, overall willingness to purchase was not high, and transactions were mainly concluded at low prices......

During the survey period (February 10 to February 23), the operating rates and capacity utilization rates of rebar and wire rod rolling mills in the Central China region decreased to varying degrees.

According to SMM data, in the first week after the holiday, the national social inventory of hot-rolled coil in 86 warehouses (large sample) surveyed by SMM was 5.3775 million mt, up 1.1404 million mt WoW, up 26.92% WoW, and up 31.57% YoY on a lunar calendar basis. In the first week after the holiday, the national social inventory accumulated significantly. By region, the markets with larger accumulations were south China, east China, and north China.

[SMM Survey on Operating Rate of Steel Mills Using Externally Purchased Billets] According to an SMM survey, as of February 28, the operating rate of steel mills using externally purchased billets that mainly produce construction materials was 0%, down 24.49 percentage points MoM from the January operating rate and down 16.21 percentage points YoY.