National Mainstream City HRC Offer Drops by 10 Yuan/MT, Export Prices Stable

SMM Flash: Steel export offers held steady today, with mainstream order shipments concentrated in March-April. Market transactions, approaching the holiday, sentiment for taking orders significantly weakened, with most traders holding offers steady. Recently, orders and shipments for sheets & plates and wire rods have been relatively average. Looking ahead, prices are expected to mostly hold steady before the Chinese New Year, with transactions tending to quiet down.

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.