【SMM Analysis】Southeast Asia Steel 2026: Supply Surge, Trade Shifts & The New Price Order

Today, the DCE iron ore market exhibited volatility during the morning session, followed by an initial rally and subsequent retreat in the afternoon. The benchmark contract, I2605, ultimately closed flat at 761.5 RMB/tonne

[Domestic Iron Ore Brief: Iron Ore Concentrate Prices in Tangshan Area May Fluctuate in the Doldrums] Domestic iron ore prices in the Tangshan area are relatively stable, with 66-grade iron ore concentrates at 980-985 yuan/mt. As the Chinese New Year holiday approaches, producers' operational pace has slowed down, and buyer inquiries for sourcing goods are fewer. Some have accelerated direct procurement of resources from large local mines, but apart from fulfilling steel mill orders, ore dressing plants still face certain obstacles in exporting resources.

During the day, HRC prices trended weaker, with the most-traded contract closing at 3,220 at the end of the session, down 0.65%. In the spot market, national mainstream city HRC offers fell 10 yuan/mt, while cold-rolled and galvanized prices held steady, and export prices remained stable. In the short term, as this week is the last working week before the Chinese New Year, market trading activity continues to cool. Traders and downstream users started taking holidays gradually from today, with many traders suspending quotes. HRC and cold-rolled prices are expected to stabilize during the latter half of this week.