Tangshan issued air pollution control plan for March

This week, ferrous metals were in the doldrums. On the first day after the holiday resumption, due to the impact of overseas risk events during the long holiday—primarily the US's plan to impose new tariffs on approximately six industries (including large batteries, cast iron and iron fittings, plastic pipes, industrial chemicals, as well as power grid and telecommunications equipment) and the escalation of US-Iran tensions—overall sentiment fluctuated significantly, and ferrous futures also touched recent lows. Mid-week, with some steel mills in the Tangshan area receiving notifications for voluntary emission reductions during the Two Sessions, coupled with Shanghai's adjustment of housing purchase restrictions and rumors of favorable real estate policies during the Two Sessions, futures rebounded from lows, showing significant sector resonance effects. However, as the weekend approached, no new favorable policies emerged, and futures retreated once again.

[SMM Aluminum Express] According to SMM data, the secondary aluminum industry PMI fell 16.7 percentage points MoM to 27.9% in February, remaining in contraction territory. Affected by the Chinese New Year holiday, enterprise production pace slowed down, with both supply and demand weakening, leading to a significant pullback in industry prosperity. Entering March, as enterprises fully resume production, the secondary aluminum industry PMI is expected to rebound above the 50 mark.

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