PBOC Shanghai: Yangtze Delta Deposits Reach 92.14T Yuan, Up 8.9% YoY by End-July 2026

Today, the DCE iron ore futures consolidated on a strong note. The most-traded I2701 futures contract on DCE closed at 720 yuan/mt, up 0.49% from the previous trading day. Spot prices of mainstream varieties rose by 2-7 yuan/mt, with traders adjusting to market conditions and maintaining a stable pace of shipments.

[Flat products]Today HRC and other flat-product export prices were steady day on day, with HRC transactions concentrated in the 490-493 USD/tonne range. Overall market sentiment was mediocre today, and some mills in north China concluded small-lot HRC deals. [Billet]Today billet export FOB prices were steady, with Jiangyin port offers at 455-460 USD/tonne. Feedback indicates that export offers have risen recently, but overseas buyers' price expectations sit more than 5 USD/tonne below those offers, and with some overseas exporters quoting on the low side, Chinese prices hold no clear advantage. The market has largely stayed cautiously on the sidelines and appetite to trade has been weak. [Rebar]Today rebar export offers at Tianjin port were steady, with overall transactions at 478-483 USD/tonne. Exporters report that recent typhoon disruption has prompted warnings at some ports, which may weigh on port operations and loading efficiency. On the demand side, overseas end-users remain reluctant to accept high-priced cargoes, and overall trading has been on the weak side.