[SMM Steel] EU Q2 steel import quotas exceeded within first week

SMM Express: Most China steel export prices held steady today, while prices outside China saw significant increases. In terms of China's export transactions, steel billet inquiries were moderate during the day, while flat product trading was lackluster. Markets outside China, most steel mills still expected further price raises, thus offering high ex-factory prices, with some clients remaining on the sidelines.

[SMM Daily HRC Trading] On April 7, the combined daily HRC trading volume of SMM's sample enterprises across four cities (Shanghai, Lecong, Tianjin, and Ningbo) totaled 14,580 mt, up 170 mt DoD (+1.2%), up 47.42% YoY (solar calendar basis), and up 1.67% YoY (lunar calendar basis).

HRC futures fluctuated downward today, with the most-traded contract closing at 3,275, down 0.37% MoM. Spot market side, market quotations remained largely stable with slight price cuts in some markets. Market transactions were relatively lackluster, dominated by rigid-demand purchases. In terms of supply, few new maintenance shutdowns were added this week, and coupled with the gradual production resumptions from earlier maintenance, supply showed an incremental trend. Demand side, futures and spot price trends diverged, and spot market purchasing enthusiasm was weak, mainly driven by rigid demand. Inventory side, Zhangjiagang port inventories accumulated 30,000 mt compared to pre-holiday levels, and affected by the holiday, destocking performance in some markets may fall short of ....