【SMM Steel】Australia initiates AD probe on galvanised steel from South Korea & Vietnam

The DCE iron ore futures traded weak today. The most-traded contract I2609 closed at 780 yuan/mt, down 0.57% from the previous trading session. Port spot prices fell 3-5 yuan/mt from the previous day. Traders showed moderate enthusiasm in offering prices; steel mill purchases were mostly driven by rigid demand; overall spot market transactions remained thin as of now.

SMM News Flash:  [Billet] Today, export steel billet offers held steady. It was learned that regional offers showed slight divergence — northern offers were generally higher with steel mills showing weak willingness to sell, while east China offers were relatively lower but still above buyer expectations, resulting in mediocre transaction activity. [Indonesia] A steel mill in Indonesia offered HRC export prices at 515 USD/tonne FOB for July. Market rumors suggested that prices still faced further downward pressure, as most steel mills had not yet received sufficient orders for July.

[SMM Hot-Rolled Coil Daily Trading] On June 3, the combined daily trading volume of hot-rolled coil from SMM's sample enterprises across four cities (Shanghai, Lecong, Tianjin, and Ningbo) totaled 13,880 mt, down 680 mt DoD (-4.9%), up 41.92% YoY (solar calendar), and up 23.05% YoY (lunar calendar).