Tangshan’s Fengnan, Qianxi, Zunhua issued their air pollution control plans for May

This week, ferrous metals first declined then rose, maintaining an overall sideways movement. Early in the week, a fire accident occurred at the coal washing plant of Shanxi Coking Coal Huozhou Coal Power Jinbei Coal Industry (Shanlang Mine), with the production resumption time yet to be determined, but the impact on the ferrous chain was limited. In the latter part of the week, several real estate companies stated that they were no longer required to report on the "three red lines," indicating a potential relaxation of strict regulatory policies. Additionally, although the inventory of the five major steel products continued to accumulate MoM, the situation was better than in previous years, leading to a recovery in futures. In the spot market, trading was weak when futures were under pressure. However, when the spot-futures price spread narrowed in the latter part of the week, some spot-futures purchase activities emerged. Demand for construction materials declined further, while the manufacturing sector mostly restocked based on demand.

[SMM Tin Futures Review: The Most-Traded SHFE Tin Contract Plunged Over 8% in a Single Day, Tin Prices Expected to Be in the Doldrums in the Short Term]

[SMM Tin Midday Review: Macro Sentiment Faded and the Most-Traded SHFE Tin Contract Fell Sharply Today, Spot Market Slightly Recovered]