Hot News

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  February Auto Production and Sales Data Released, NEV Exports Continued Strong Growth. Will the Auto Market Gradually Strengthen in March? [SMM Special Report]

• [SMM Hot-Rolled Coil Arrivals] Arrivals in Mainstream Markets Increased Slightly WoW This Week

  SMM Steel, February 24 – According to SMM statistics, the estimated total shipments to mainstream markets this week reached 302,700 mt, up 50.90% WoW. By market:

• Magnesium Ingot Transactions Increased, Rigid Demand Support Became More Evident, and a One-Sided Market Trend Was Unlikely in the Short Term [SMM Spot Magnesium Ingot Flash Report]

  [Magnesium Ingot Transactions Increased Significantly, Rigid Demand Support Became More Evident, and a One-Way Market Was Unlikely in the Short Term] Today, quotations in the main production areas for 99.90% magnesium ingot were 16,600-16,700 yuan / mt, and low-priced supply in the market increased.

• MMi Daily Iron Ore Report (March 17)

  Today， DCE iron ore futures generally strengthened today. The most-traded contract I2605 finally closed at 816.5 yuan/mt, up 1.81% from the previous trading session. Meanwhile, the spot price rose by about 5 yuan from the previous trading day.

• Electric-Furnace Mills See Mixed Earnings; Some Boost Profits by Adjusting Specs and Raising Prices

  As of March 17, the operating rate of 50 electric-furnace steel mills nationwide mainly producing construction materials was 38.64%, up 3.26% WoW; the capacity utilization rate was 39.87%, up 10.53% WoW; and daily average production of construction materials was 88,800 mt, up 23,500 mt WoW.