[SMM Steel] Tata Steel partners with Hindustan Zinc for sustainable steel manufacturing

Dalian iron ore futures exhibited a volatile but firm upward trend today, with the most-traded I2605 contract concluding the session at 819 RMB per tonne, marking a 0.92% increase from the prior trading day.

[China Iron Ore Brief Review: Iron Ore in Shandong May Continue to Edge Higher] This week, at mines and beneficiation plants in Shandong, the ex-mine quote for 64 grade alkaline fines on a dry basis, before tax and settled by bank acceptance, was 899, up 17 yuan/mt. Steelmakers raised prices in tandem, most miners maintained normal production, and some mines slightly increased output. Steel mills showed moderate willingness to purchase, mainly under long-term contracts, while shipments from small plants and traders were also relatively good, with overall transactions improving; after a large mine in Zaozhuang resumed production

In terms of supply, maintenance on rolling lines decreased somewhat this week, and production continued to rebound. On the demand side, as futures heated up, market trading sentiment improved somewhat. Meanwhile, with the market in the traditional peak steel consumption season of “Golden March and Silver April,” there was still some expectation for steel demand in the period ahead, and the HRC supply-demand imbalance remained moderate. Coupled with rising global energy prices, coking coal and coke held up well, and overall cost support still remained dominant. Therefore, HRC is expected to continue fluctuating with raw materials, with a generally firm trend.