MMi Daily Iron Ore Report (September 20)

[SMM Chrome Daily Review: Transaction Prices Moved Lower, Chrome Market Weakened Overall] May 9, 2026: The ferrochrome and chrome ore market experienced slight fluctuations...

[Supply-Demand Structure Maintains Healthy Balance; GO Silicon Steel Prices May Hold Up Well Next Week with Generally Stable with Slight Rise Trend] Recently, ferrous metals futures fluctuated upward, with a strong overall bullish atmosphere in commodities. Combined with multiple policies and projects in the power industry chain, this provided strong sentiment support for the GO silicon steel market. At the current stage, price transmission pace across the industry was smooth, with upstream and downstream price adjustments well-connected and no significant bottlenecks. Downstream transformer and power equipment manufacturing enterprises maintained stable operating rates, with production pace steady and orderly. Driven by the continued advancement of power grid infrastructure expansion and new energy supporting projects, end-user just-in-time procurement remained robust. Many traders and downstream producers restocked raw material inventory in moderate quantities at low prices.

[Intensified Competition Due to Loose Supply, Non-Oriented Silicon Steel May Run Stable Next Week] According to market surveys, traders gradually resumed production after the holiday, but spot transactions were sluggish, with merchants mainly following up on orders left over from before the holiday. Meanwhile, arriving resources continued to replenish after the holiday, social inventory accumulated steadily, and spot supply was relatively sufficient. Currently, the downstream motor and home appliance industries are gradually entering the traditional demand off-season. Combined with supply fluctuating at highs, competition among various brands of silicon steel intensified, end-user purchase willingness remained weak, and spot prices encountered resistance obviously.