To promote the recycling of renewable resources and standardize the import management of recycled black mass raw materials for lithium-ion batteries and recycled steel raw materials, on June 9, 2025, the Ministry of Ecology and Environment, jointly with the General Administration of Customs, the National Development and Reform Commission (NDRC), the Ministry of Industry and Information Technology, the Ministry of Commerce, and the State Administration for Market Regulation, issued the Announcement on Regulating the Import Management of Recycled Black Mass Raw Materials for Lithium-ion Batteries and Recycled Steel Raw Materials (Announcement No.14 of 2025), which will come into effect on August 1, 2025.

According to the SMM survey, the large-caliber inventory of SMM Ningbo HRC this week was 245,400 mt (as of July 16), a decrease of 11,100 mt WoW.This week, HRC prices fluctuated upward, with spot prices rising by 40-60 yuan/mt on a weekly basis. The futures market surged too rapidly, with spot prices and the intensity of end-use demand release remaining at a moderate level, and overall transactions were relatively stable. As of the afternoon close on July 18, the most-traded HRC 2510 futures contract closed at 3,310 yuan/mt.

Today, DCE iron ore futures jumped initially and then pulled back, with the most-traded contract I2509 closing at 785, up 0.38% for the day. Traders were highly motivated to sell.

[Domestic Iron Ore Brief Review: Hot Metal Production at High Levels Supports Iron Ore Demand; Iron Ore Concentrates Prices in West Liaoning May Have Room for Further Increase] Prices of domestically produced iron ore concentrates in west Liaoning have slightly increased, with ex-factory prices (wet basis, excluding tax) for 66% grade iron ore concentrates ranging from 780 to 790 yuan/mt. Iron ore futures have continuously surged, coupled with the impact of steel mills' increased procurement prices, leading to a significant upward trend in spot prices sought by beneficiation plants. However, steel mills are operating cautiously, with procurement mainly based on demand.