According to SMM tracking, affected by the plunge of futures market, s

Published: Oct 11, 2023 08:59

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According to SMM tracking, affected by the plunge of futures market, steel mills in Tangshan have lowered the purchase price of fine powder, with the market price dropping by 20-25 yuan/ton. The miners are not optimistic about the future market, believing that the price of iron powder may be lowered, but due to the tight local iron powder resources, some miners are still in a wait-and-see attitude, but overall, most miners are selling as they produce. On the demand side, steel mills are suffering more losses, and they are strongly willing to suppress the price of raw materials. If the losses continue to worsen, local steel mills may take production cuts, which will be a negative for iron powder prices. Overall, it is expected that after this round of price cuts, the local market will remain weak and stable.

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