【Summary of SMM Steel Morning Meeting: Weak Market Confidence Suppress

Published: May 6, 2024 07:30

Save

【Summary of SMM Steel Morning Meeting: Weak Market Confidence Suppresses the Upside Potential of Steel Prices】The continuous iron futures opened with a downward trend and rebounded slightly at the end of the session as some short positions reduced their holdings and exited the market. The main contract finally closed at 874, with a daily decline of 0.06%. Traders' willingness to sell goods is relatively low, and steel mills' willingness to purchase has also weakened. The overall market trading atmosphere is bleak. The transaction price of PB powder in Shandong is 870-875 yuan/ton, relatively stable...

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or for more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

40 mins ago

Magnesium Prices Rise for Three Consecutive Sessions! Cost Side Remains "Burning Hot" While Demand Side Struggles to Take Over [SMM Commentary]

40 mins ago

59 mins ago

[ Canada to Impose 50% Retaliatory Tariff on US Steel ]

The Canadian government announced a 50% retaliatory tariff on United States exports of steel and aluminum, scheduled to take effect on September 8, 2026. The aggressive trade measure directly responds to the recent collapse of bilateral metal trade negotiations and the implementation of US tariffs. The cross-border penalties threaten to heavily disrupt integrated North American steel supply chains ahead of the fast-approaching deadline.

59 mins ago

1 hour ago

[ Bharat Coking Coal Output Grows 2.8% in August ]

Bharat Coking Coal Limited (BCCL) announced that its coking coal production increased by 2.8% year-on-year to 2.18 million tonnes in August 2026. Despite a sharp 65.9% drop in non-coking coal output, the core metallurgical segment drove total raw coal production to 2.21 million tonnes for the month. Opencast mining operations were the primary contributors to this volume, generating 2.19 million tonnes of the total yield.

1 hour ago