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According to SMM data, the average weekly production of domestic hot-rolled coils in February was 3.2004 million mt, up 0.80% MoM from January.

The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on 13 Feb , 2026

[SMM Stainless Steel Daily Review] SS Futures Weakened on Last Trading Day Before Holiday, Stainless Steel Spot Prices Remain Stable Awaiting Post-Holiday Resumption SMM, February 13: SS futures continued to decline and probe lower. On the last trading day before the Chinese New Year holiday, nonferrous metals futures collectively came under pressure and fell, with SS futures also weakening in sync, ultimately closing at 13,860 yuan/mt. In the spot market, despite the volatility in SS futures and rising high-grade NPI prices ahead of the holiday, most spot traders had already entered the holiday period, logistics and transportation were suspended, transactions were sparse, and prices maintained a stable trend, with the market quietly awaiting the post-holiday resumption. The most-traded SS futures contract pulled back. At 10:30 a.m., the SS2604 contract was quoted at 13,765 yuan/mt, down 315 yuan/mt from the previous trading day. In Wuxi, the spot premiums/discounts for 304/2B were in the range of 405-605 yuan/mt. In the spot market, the average price for cold-rolled 201/2B coil in Wuxi was reported at 8,500 yuan/mt; for cold-rolled mill-edge 304/2B coil, the average price in Wuxi was 14,100 yuan/mt, while in Foshan it was 14,050 yuan/mt; in Wuxi, the price for cold-rolled 316L/2B coil was 26,600 yuan/mt, and in Foshan it was also 26,600 yuan/mt; for hot-rolled 316L/NO.1 coil, the price in Wuxi was reported at 25,750 yuan/mt; in both Wuxi and Foshan, the price for cold-rolled 430/2B coil was 7,800 yuan/mt. On the futures side, driven by weakening macro influences and narrowing fluctuations in nonferrous metals futures, the market showed a relatively stable and fluctuating trend at the beginning of the week, with trading activity experiencing a pullback. As the Chinese New Year holiday approached, market participants considered avoiding holiday risks, coupled with earlier...

【SMM Steel】Jindal (India) Limited commissioned a new metal coating line at its Ranihati plant with an ~Rs 11 bn investment. The first batch is out, marking a key downstream expansion. High-value coated steel output will rise ~60% to 300,000 tons, driving ~20% revenue growth in FY26. Products target infra, white goods, solar, and roofing. This is part of the group's Rs 15 bn capex plan. It also plans a new Odisha steel plant with Rs 150 bn investment by 2030.

【SMM Steel】Bosnia's trade ministry proposed a 200-day, 30% duty on steel imports following a complaint by Nova Željezara Zenica. In 2025, reinforcing mesh imports surged 192.87% above the 4-year avg, with Serbian and Italian supply up 408.45% and 105.7%. Turkish coiled ribbed bar imports jumped 885.2%, Serbian 113.2%. The ministry warns of idle capacity and import dependency. The measure aims to prevent job losses and damage to local industry.

【SMM Steel】Vietnam approved pilot GHG emission allowances for 2025-2026. The 2026 quota is ~268.39 Mt CO₂e, up >10% YoY. Allocations go to 34 thermal power plants, 25 steel firms, and 51 cement plants under Decision No. 263/QD-TTg. 2025 quota: 243.1 Mt. Firm-level details are undisclosed. Including steel and cement signals tighter carbon rules and paves way for a 2028 carbon pricing scheme. Vietnam reaffirmed net-zero by 2050 and targets deep cuts by 2030 with int'l support.

【SMM Steel】Toyota began buying green steel from Nippon Steel, JFE, and Kobe Steel late last year. Green steel costs ~40% more than conventional, but govt subsidies help. Volumes undisclosed. Using EAFs instead of blast furnaces cuts CO₂ by ~75%. Toyota gets official certificates, joining Nissan and Isuzu. The move by the world's top automaker may push wider adoption of cleaner tech.

【SMM Steel】Hyundai Steel began mass-producing low-carbon steel sheets via a hybrid BF-EAF process, cutting CO₂ by ~20% vs conventional BF products. R&D started in 2023 at Dangjin; 25 steel grades certified. Initial supply targets Hyundai, Kia models in Korea and Europe. It's also developing low-carbon heavy plate for offshore wind, eyeing global energy and infrastructure markets.

【SMM Steel】Cleveland-Cliffs said it can meet rising auto steel demand without new mills, using existing galvanizing/coating lines. It's substituting steel for aluminum using current aluminum forming gear, winning mass orders with no new tooling costs. Tighter Canadian import curbs help its Stelco unit. It's in talks with Posco on a strategic deal, targeting H1 2026. It also sees higher utilization and better pricing as markets recover.

【SMM Steel】The first ScanLoop train arrived at Beddingen, carrying 25 wagons of steel scrap from Volvo Cars' Sweden plant to Salzgitter Flachstahl. The closed loop returns compressed stamping off-cuts to Germany for melting, using backhaul trains instead of running empty. The 700-km rail trip takes 1.5 days with 100% carbon-neutral power. Salzgitter's DEUMU and VPS manage it. It shows how circular economy boosts resource efficiency and cuts emissions.