[Yonggang September-1 Ten-day Quotation]

Today, the most-traded HRC contract extended the downtrend from last night's night session, recovered somewhat in the afternoon, and closed at 3,380, down 0.47% WoW. HRC and CRC spot prices rose to varying degrees. In terms of supply, this week's HRC impact from maintenance was 95,100 mt, down 151,500 mt WoW. Next week's HRC impact from maintenance is 51,900 mt, down 43,200 mt WoW, with overall supply growth relatively small. Demand side, during the seasonal transition, end-use demand has yet to show a significant increase, and the futures-spot absorption capacity weakened WoW. Cost side, yesterday's meeting between the heads of state of China and Mongolia discussed issues such as border port railway construction. The market is concerned that Mongolian coal supply may gradually recover, which hindered the rise of coking coal and coke futures. Overall, short-term HRC prices continue to follow the cost side trend. Closely monitor the actual supply situation of coking coal and coke. The most-traded HRC contract will continue to consolidate at highs.

Iron ore concentrate prices in the Tangshan region remained relatively stable, with 66% grade iron ore concentrates priced at 960-965 yuan/mt on a dry basis, tax-inclusive EXW. Production at mines and beneficiation plants was relatively stable overall, but steel mill losses have deepened recently.

[SMM Steel] According to market feedback, the current offshore price for 3SP billets with a specification of 150*150mm is quoted at USD 465/ton, with the port of shipment being Jiangyin Port.