Upside Room Of Iron Ore Prices Will Be Limited After Chinese New Year 

[SMM Stainless Steel Daily Review] Indonesia nickel ore news continues to boost stainless steel futures, which hold up well On April 16, SMM reported that SS futures continued to hold up well. News related to Indonesian nickel ore continued to boost market sentiment, driving SS futures to maintain a fluctuating trend on the strong side. As of the morning close, the most-traded SS contract was quoted at 14,810 yuan/mt. On the spot market front, SS futures largely held firm at elevated levels. Although actual order transactions from downstream end-user clients remained lackluster, with a cautious stance still prevailing toward purchasing high-priced cargoes, some futures-spot arbitrage orders traded actively. Combined with some traders offering discounts on select specifications to facilitate shipments, the market was broadly confident and bullish on the outlook, and stainless steel prices are expected to remain firm in the near term. The most-traded SS futures contract strengthened and moved higher. At 10:15 AM, SS2605 was quoted at 14,798 yuan/mt, down 20 yuan/mt from the previous trading day. Spot premiums for 304/2B in the Wuxi area ranged from 30-230 yuan/mt. In the spot market, the average price of cold-rolled 201/2B coil in Wuxi held steady; for cold-rolled untrimmed 304/2B coil, the average price in Wuxi held steady and the average price in Foshan held steady; cold-rolled 316L/2B coil in the Wuxi area held steady; for hot-rolled 316L/NO.1 coil, Wuxi quotes rose by 100 yuan/mt; cold-rolled 430/2B coil in both Wuxi and Foshan held steady. The stainless steel market is currently in the traditional peak season of "Golden March and Silver April." In the short term, macro tailwinds have helped restore confidence, and spot inquiry activity has picked up. However, cautious sentiment among downstream end-users has not dissipated, with purchasing still driven mainly by rigid demand and acceptance of high-priced cargoes remaining...

[SMM Chrome Daily Review: Wait-and-See Sentiment Prevailed, Chrome Market Prices Edged Down] April 16, 2026: The ferrochrome and chrome ore market showed no fluctuations for the time being...

The Italian steel group Marcegaglia signed an agreement on April 15, 2026, with technology partner Danieli to construct a new steel mill in Fos-sur-Mer, France. Known as the "Mistral" project, the total investment is estimated at €1 billion, with the plant expected to produce over 2 million tons of steel annually via Electric Arc Furnace (EAF) technology and up to 3 million tons of hot-rolled coil (HRC). Utilizing scrap metal and low-carbon Direct Reduced Iron (DRI) powered by nuclear and renewable energy, the facility aims to reduce CO2 emissions by 80% compared to traditional blast furnace routes.