One-Year and Five-Year LPR Unchanged at 3.1% and 3.6%, Respectively

【SMM Steel】Russia's MMK plans to cut management by 10% and halt new investment amid weak demand. It's operating at 60% capacity due to falling orders from construction, energy, and auto sectors. High interest rates and trade curbs are straining the industry. The CEO said the company must align its workforce with reduced production levels. Only environmental and efficiency upgrades will continue.

[SMM Daily Brief Review of Coking Coal and Coke] In terms of supply, with costs remaining high, most coke producers saw wider losses and began to push for a coke price hike, but losses remained within an acceptable range, and coke production stayed stable. On the demand side, steel trading improved somewhat, steel mills became more willing to produce, and daily average hot metal production continued to increase, further boosting rigid demand for coke. Overall, coke fundamentals shifted toward tightness, but steel mills showed only average acceptance of higher coke prices, and the coke market may remain generally stable with slight rise in the short term.

The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on 25 Mar , 2026