[Domestic Iron Ore Brief Review: Prices of Iron Ore Concentrates in the Tangshan Region May Fluctuate Downward] The Tangshan iron ore concentrates market saw a slight increase of 5-10 yuan/mt driven by the price hike of leading steel mills. The current delivery-to-factory price for 66-grade dry basis, tax-included, is 970-980 yuan/mt, with some producers showing slightly softened sentiment.

[SMM Steel Mill Guiding Prices] Guiding Prices of Various Series from Large Domestic Steel Mills on December 26

Today, DEC iron ore futures initially rose but later declined. The most-traded I2505 contract closed at 776.5 yuan/mt, down slightly by 0.06% from yesterday. Traders mainly followed market trends to sell goods.

As of December 18, Bensteel Group Mining Company had cumulatively recovered 8.523 million mt of ore, completing this year's ore recovery and production increase target 13 days ahead of schedule. This effectively filled the raw material gap for the increase in iron ore concentrates production and alleviated the current production pressure at the mining site.

[SMM Stainless Steel Spot Daily Review: Slight Inventory Buildup in the 400-Series Spot Market, but Overall Social Inventory Still Focused on Destocking] On December 26, stainless steel futures prices experienced slight fluctuations and declined, while spot prices continued to remain stable at low levels...

Since the beginning of this year, the Ministry of Commerce has led the implementation of the trade-in policy for consumer goods, working with relevant departments to issue a series of policy documents, increase financial support, improve the work promotion system, and coordinate efforts to promote energy-efficient vehicle replacements, smart home appliance upgrades, kitchen and bathroom renovations, and electric bicycle trade-ins.

This week, HRC social inventory was 1.8928 million mt (down 25,900 mt WoW, -1.35% WoW, -7.00% YoY, -10.05% YoY on a lunar calendar basis). This week, HRC in-plant inventory was 1.1157 million mt (up 9,700 mt WoW, +0.88% WoW, +7.46% YoY, +9.30% YoY on a lunar calendar basis). This week, total HRC inventory was 3.0086 million mt (down 16,200 mt WoW, -0.53% WoW, -2.12% YoY, -3.73% YoY on a lunar calendar basis).

[SMM HRC Weekly Balance & Social Inventory Overview] Demand Remains Resilient, Social Inventory Buildup Does Not Continue This week, SMM's statistics for HRC social inventory across 86 warehouses nationwide (large sample) stood at 2.9777 million mt, down 40,900 mt (-1.35% MoM, -20.90% YoY based on the lunar calendar). Social inventory declined this week nationwide. By region, inventory buildup accelerated in the north China market, while destocking occurred in the south, central, east, and north-east China markets. Specifically...

This week, some steel mills in east and north China resumed production after maintenance, while others are still undergoing maintenance or are expected to start maintenance soon. Overall, HRC production fluctuated rangebound MoM.

The steel scrap purchase price adjustment for Anyang Iron & Steel in Henan has been updated today. If needed, feel free to contact us!