Chinese Mobile Phone Shipments Fall 7.1% YoY in March 2026

This week, ferrous metals diverged, with coking coal and coke extending their strength, iron ore making some concessions, and finished steel moving sideways. Early in the week, rumors about coal mine safety inspections continued to swirl, and expectations of supply tightness intensified, driving coking coal to its daily limit up. Against weak supply-demand fundamentals, iron ore took a path of conceding to coking coal and coke, while finished steel edged higher in a narrow range; later in the week, data on the five major steel products were released, with HRC inventory destocking continuing, the off-season effect on construction steel demand emerging, inventory destocking narrowing, and overall inventory pressure for finished steel also beginning to slowly accumulate......