[SMM Hot-Rolled Coil Arrivals] Arrivals in the South China Market Declined Significantly WoW This Week

Dalian iron ore futures strengthened during the morning session before paring gains in the afternoon. The most-traded I2605 contract settled at 824 RMB per tonne, representing a 0.55% increase from the prior trading day.

SMM Flash: Overall, steel export quotations saw relatively small increases today, with most order shipment schedules concentrated in May and June. Recently, as international crude oil prices continued to rise, ocean freight rates increased sharply, and most traders' CIF quotations were too high to secure deals. Meanwhile, according to an SMM survey, taking the Vietnamese market as an example, the CIF prices of supplies from India, Russia, and other sources also rose significantly, and their advantage over local supplies was no longer prominent, resulting in low market acceptance.

SMM Steel, February 24 – According to SMM statistics, the estimated total shipments to mainstream markets this week reached 302,700 mt, up 50.90% WoW. By market: