MMi Daily Iron Ore Report (June 6)

The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on 30 Mar , 2026

[SMM Daily Chrome Review: Prices Pulled Back, Weak Confidence on the Ore Side; The Supply-Demand Relationship in the Ferrochrome Market Adjusted] March 30, 2026: Ferrochrome prices saw no adjustment for the time being, while chrome ore prices dropped back slightly...

Driven by the combined impact of macro policies and geopolitical factors, the stainless steel market outside China saw a marked upward shift in the cost center. Indonesia’s decision to impose tariffs on nickel and coal exports, together with the implementation of Europe’s CBAM carbon tax, directly ignited bullish sentiment across the raw material supply chain, leading to firm Indonesian export offers and a sharp surge in European alloy surcharges. Pushed strongly by costs, steel mills across many parts of Asia intensively raised their list prices. However, end-use demand outside China showed significant structural divergence, with Japan and South Korea remaining resilient while Taiwan, China came under pressure. As the rapid price rally in the earlier period triggered downstream fear of high prices, current procurement is strictly limited to rigid demand. Looking ahead, the specific implementation details of Indonesia’s tariffs and validation of substantive demand will become the core variables shaping futures. In the short term, markets outside China are likely to hover at highs while maintaining a cautious wait-and-see stance.