【SMM Steel】Australia Delays Final Ruling on China’s Strata Steel Bolts AD Case

China Steel Market Export : [Sheets & Plates] Today, HRC export prices continued to decline by 2 USD/tonne on a daily basis, with transaction prices at 496-504 USD/tonne. Domestic futures fell, and market inquiry activity weakened somewhat. Domestic traders reported that tax-exclusive offers appeared in multiple northern markets, and congestion at some ports persisted. [Steel Billet] Today, square billet export prices were at 473-475 USD/tonne, easing slightly by 1 USD/tonne DoD. Recently, northern market offers were on the high side, but high-priced resources failed to close deals. Additionally, inquiries from outside China weakened, with buyers adopting a wait-and-see approach, and inquiry prices remained 3-5 USD/tonne below market prices. [Rebar] Today, rebar export offers eased slightly by 1 USD/tonne. According to some market participants, rebar inquiry activity was weak with lackluster transactions, and some steel mills plan to venture into markets outside China to seek new order-taking opportunities.

The DCE iron ore futures trended weaker today. The most-traded contract I2609 closed at 767 yuan/mt, down 1.85% from the previous trading session. Port spot prices fell 6-11 yuan/mt from the previous day.

[Silicon Coal Prices Rose Slightly, Trading Game Sentiment Increased in Silicon Metal Market]: Supply side, northern silicon enterprises' operating rates were basically stable, while southwestern silicon enterprises' operating rates gradually improved. As the southwest successively entered the rainy season with electricity prices adjusted downward, a small number of silicon enterprises resumed production or increased operations, but the pace of production release was relatively slow. Cost side, although southwestern rainy season costs were periodically adjusted downward, current regional costs remained higher than those of northern silicon enterprises in production. Therefore, rising silicon coal raw material prices provided strong cost support below silicon metal prices, while prices above were constrained by the supply-demand relationship. Silicon metal was in a trading game phase, with attention on changes in market sentiment.