[SMM News Flash: Yunnan Steel Mills Take Forceful Measures to Resist Unreasonable Price Declines] Under the background of weak demand in the slack season, the switch between new and old national standards has triggered panic price-cutting in some regional markets, which has later spread to all parts of the country through the market. Yunnan has also been affected, and steel manufacturers and distributors in the province have generally suffered significant losses. In view of this, in order to maintain the stable operation and healthy development of the steel trade industry, after discussions among the sales departments of major steel manufacturers in Yunnan Province, it has been decided that:

From now until July 31, 2024, steel mills will suspend the adjustment of their product settlement prices based on the price reduction dynamics announced by the futures market or other third-party institutions. Specific follow-up pricing strategies will be reassessed and announced in early August.