SMM March 13 News: After a brief stabilization, domestic spot alumina prices have resumed a downward trend. The spot alumina market saw sporadic cargo transactions from last Thursday to Friday, with transaction prices in north China generally ranging from 3,200-3,300 yuan/mt. The decline in spot alumina prices has resumed.

[SMM HRC Daily Trading Volume] On March 13, the daily trading volume of HRC sample enterprises in four cities (Shanghai, Lecong, Tianjin, Ningbo) monitored by SMM totaled 16,780 mt, up 200 mt day-on-day (+1.2%). Today, futures continued to fluctuate upward, spot prices rose by 10-40 yuan/mt, and market trading sentiment was positive with active purchases. Some traders remained bullish and reluctant to sell, while daily trading volume stayed at a high level.

[SMM Construction Material Inventory: Further Reduction in Crude Steel Production, Decline in Both In-Plant and Social Inventory] This week, the total rebar inventory was 7.9754 million mt, down 59,800 mt WoW, a decrease of 0.74% (previous value: -0.45%). On a YoY basis, it decreased by 4.074 million mt compared to the same period last year on the lunar calendar, a drop of 33.81% (previous value: -35.12%).

This week, the prices of 5-series consumer-grade, 6-series consumer-grade, and 8-series power-grade ternary cathode precursor products all showed a trend of significant and continuous increase.

[SMM Stainless Steel Spot Daily Review: Stainless Steel Market Prices Steady to Rising, Downstream Purchases Remain Cautious] According to an SMM survey, stainless steel market prices continued to rise on March 13. The most-traded SS2505 futures contract fluctuated at high levels, with a quote of 13,575 yuan/mt at 10:30 a.m., up 25 yuan. Spot prices increased, generally rising by 50 yuan/mt. The market showed polarization, with stainless steel mills and traders being bullish, while downstream enterprises restocked only for immediate needs. The spot performance varied between Wuxi and Foshan. The Wuxi market was active, with rising prices for 304 coils and strong inquiry levels, reflecting bullish sentiment. In contrast, the Foshan market was sluggish, with prices steady to slightly higher and weak transactions, as downstream buyers remained cautious.

[SMM Steel Mill Guiding Prices] Guiding Prices for Various Categories of Large Domestic Steel Mills on March 13 Remain Stable.

[Market Pessimism Prevails, Silicon Prices Continue to Decline, Silicon Enterprises Face Challenges]: Silicon Metal: This week, spot silicon metal prices continued to decline, while futures prices kept falling, with market pessimism prevailing. The weekly decline in silicon metal widened compared to last week. As of March 13, SMM east China above-standard #553 silicon was at 10,400-10,600 yuan/mt (down 150 yuan/mt WoW), #441 silicon at 10,800-11,000 yuan/mt (down 150 yuan/mt WoW), and #3303 silicon at 11,700-11,900 yuan/mt (down 100 yuan/mt WoW). In the futures market, the main SI2505 contract fluctuated downward, breaking below 10,000 yuan/mt, with the weekly low reaching 9,780 yuan/mt and closing at 9,945 yuan/mt on Thursday, down 230 yuan/mt WoW. Polysilicon: This week, the mainstream transaction prices for N-type recharging polysilicon were 39-45 yuan/kg, and for N-type dense polysilicon were 38-42 yuan/kg. Some small factories offered N-type recharging polysilicon below 40 yuan/kg, while earlier large orders were transacted above 40 yuan/kg. Polysilicon prices remained stable for now, with lackluster transactions this week. The market has not yet entered the concentrated order signing period, and both upstream and downstream players are adopting a wait-and-see attitude. Transactions are expected to gradually pick up next week. The Q2 quota issuance slightly exceeded expectations, which may boost the polysilicon market in the future.