[SMM Lecong Hot-Rolled Coil Inventory] Lecong's Inventory Buildup Slowed This Week

[SMM Daily Brief Review of Coking Coal and Coke] In terms of supply, losses per mt of coke at coking enterprises widened slightly, operating rates barely maintained the previous level, and there was no willingness to increase production. Coke supply was relatively stable, but downstream buying interest was not high, resulting in some inventory buildup pressure at coking enterprises. On the demand side, the Two Sessions have not yet concluded, the daily average hot metal production at steel mills declined temporarily, and enthusiasm for restocking coke was not high, with just-in-time procurement maintained. In summary, sales pressure on coking enterprises increased somewhat, and cost support is expected to weaken. In the short term, the coke market may remain in the doldrums.

[SMM Steel] Andhra Pradesh Chief Minister N. Chandrababu Naidu announced that construction of the ArcelorMittal/Nippon Steel (AM/NS) integrated steel plant in Anakapalli district will officially begin with a groundbreaking ceremony on March 23, 2026. The state government aims to complete the project by March 2028, alongside plans to accelerate industrial development and establish new industrial clusters in the region.

According to an Odisha government official on Wednesday, March 11, Jindal Steel Limited was named the preferred bidder for the Thakurani A1 iron ore block after submitting the highest bid in an auction of 12 mineral blocks. Once the contract is signed, the block will provide raw materials for the company's Angul steel mill. The block has estimated reserves of 50 million mt, with an expected annual extraction of 1.5-2 million mt. Development of the block is anticipated to take three years.