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  • [SMM Steel Market Morning News] Inter-seasonal liquidity shows resilience, with a loose monetary environment expected to persist in July

    [SMM Steel Market Morning News] Inter-seasonal liquidity shows resilience, with a loose monetary environment expected to persist in July

    Faced with multiple disruptive factors such as tax payment periods and the maturity of a large volume of interbank certificates of deposit, the overall funding situation demonstrated strong resilience during the quarter-end transition period at the end of June. Short-term interest rates fluctuated mildly, and market liquidity remained reasonably ample. Looking ahead to July, market liquidity may face periodic pressure due to factors such as fiscal payments, accelerated government bond supply, and tax payment periods. However, under the continuous support of the People's Bank of China and flexible and appropriate monetary policy adjustments, the overall funding situation is still expected to maintain a loose pattern. Industry insiders predict that despite local disruptions, the interest rate center will remain generally stable, with DR007 likely fluctuating within the range of 1.5% to 1.6%. There is still room for further monetary policy easing.

  • [SMM Steel Morning Meeting Summary] Will cost disruptions be limited? HRC prices fluctuate at highs

    [SMM Steel Morning Meeting Summary: Are Cost Disruptions Limited? HRC Prices Fluctuate at Highs] Yesterday, HRC futures rose amid fluctuations, with the most-traded contract closing at 3,136, up 0.06% on a daily basis. In terms of supply, the impact from maintenance on hot-rolled coil production this week was 19,600 mt, a decrease of 32,800 mt WoW. Next week, the impact from maintenance on hot-rolled coil production is expected to be 2,800 mt, a decrease of 16,800 mt from this week. The impact from maintenance on hot-rolled coil production has reached its lowest point, further increasing the supply pressure for HRC. In terms of demand, the end-use demand from the manufacturing sector remains relatively resilient, but signs of seasonal decline have also emerged. Cost side, rumors of production restrictions on sinter in Tangshan circulated yesterday. According to the SMM survey, production restrictions on sinter in Tangshan steel mills do exist. However, the steel mills themselves have sufficient sinter inventory, which is unlikely to lead to production cuts in blast furnaces. Meanwhile, there is still an expectation for an increase in pig iron production from blast furnaces, and the support from furnace charge may not collapse in the short term. Looking ahead, the fundamental contradictions in the HRC market are still in the accumulation stage, but inventory pressure remains at a low level compared to the same period in previous years. Coupled with moderate cost support, it is expected that the most-traded HRC futures contract will continue to fluctuate at highs in the short term.

  • [SMM Hydrogen Cost Daily Review] 20250701

  • Geely Automobile achieves highest semi-annual sales in H1 2025

    On July 1, Geely Automobile Holdings Limited (Geely Automobile) released its sales results for the first half (H1) of 2025, reporting robust growth and setting new company records.

  • Public Inquiry and Comparison Procurement Tender for AC Motors of Xigang Vanadium, Mining, and Panzhihua Changcheng Special Steel, etc.

Exchange Rate
  • USD / CNY Jul.01
    7.1740 (-0.0052 | -0.0700%)
  • EUR / CNY Jul.01
    8.4802 (+0.0281 | +0.3300%)
  • GBP / CNY Jul.01
    9.8791 (-0.0103 | -0.1000%)
  • HKD / CNY Jul.01
    0.9139 (-0.0007 | -0.0800%)
  • 100JPY / CNY Jul.01
    5.0013 (+0.0144 | +0.2900%)
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