[SMM Zhangjiagang HRC Inventory] Zhangjiagang Inventory Declined WoW This Week

[EU] European HRC buyers largely paused new bookings while waiting for clearer details on the EU’s upcoming import quota allocation system. Transactions in Northern Europe were reported at €670-690/t ex-works for July-August delivery, while Italian domestic offers remained around €700/t delivered. Downstream demand stayed weak amid high inventories across ports and supply chains. Import offers remained limited and mostly uncompetitive as Asian mills resumed operations with higher prices, narrowing the gap between domestic EU prices and import costs after including CBAM expenses.

On May 8, 2026, iron ore futures experienced oscillating movements in the morning session before edging lower in the afternoon. The main contract I2609 closed at 814.5 yuan/ton, down 0.06% from the previous trading session. Port spot prices remained largely flat compared to the day before.

[SMM HRC Daily Trading] On May 8, the combined daily trading volume of HRC from sample enterprises in SMM's four cities (Shanghai, Lecong, Tianjin, Ningbo) totaled 15,820 mt, down 440 mt DoD (-2.7%), up 34.75% YoY (solar calendar), and up 48.13% YoY (lunar calendar).