【SMM Morning Meeting Summary for Steel Industry: Inventory Declines, M

Published: Jun 21, 2024 07:35

Save

【SMM Morning Meeting Summary for Steel Industry: Inventory Declines, Market Demand Rebounds, Spot Prices Weak Instead of Rising】Yesterday, the daily steel futures market was volatile and closed lower, down 0.85% from the previous trading day and closing at 3597 yuan. In the morning, spot prices moved sideways, and in the afternoon, affected by the futures market, some market prices fell slightly by 10-20 yuan/ton.

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

46 mins ago

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

46 mins ago

1 hour 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.

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