SMM February 14 News:
Galvanising enterprises generally resumed production between the ninth day (2.6) and the sixteenth day (2.13) of the first lunar month, while small and medium-sized enterprises mostly started operations after the sixteenth day (2.13). The average holiday duration was around 20 days. From the perspective of post-holiday sales, affected by tariff issues, ferrous metals prices showed weak trends, with sales in Hebei and Tianjin regions weaker than in previous years. By enterprise type, galvanised pipe enterprises maintained relatively high operating rates after resumption, with some large factories directly reaching full production to consume black material inventory. Due to the early holiday of downstream sectors before the festival, some enterprises focused on fulfilling pre-holiday orders, leading to a slight decline in finished product inventories. Compared to galvanised pipe enterprises, galvanised structural parts enterprises resumed operations later, constrained on one hand by the bottleneck of incoming material processing and on the other hand by the fact that end-user projects typically started after the Lantern Festival. Processing enterprises were still in a waiting period, with a few already operating enterprises mainly engaged in maintenance or limited production.
(The above information is based on market collection and comprehensive evaluation by the SMM research team. The information provided in this article is for reference only and does not constitute direct investment research advice. Clients should make cautious decisions and not replace independent judgment with this information. Any decisions made by clients are unrelated to SMM.)
