BHP Iron Ore Production Declines in Q1, Fiscal Year 2025 Output Target Unchanged

According to SMM statistics, total construction steel inventory this week was 9.6697 million mt, down 311,200 mt WoW (-3.12%). Both mill inventory and social inventory continued destocking, though the pace of mill inventory destocking slowed down slightly.

[Low Activity in Market Distribution — GO Silicon Steel Prices May Be in the Doldrums Next Week] This week, cold-rolled grain-oriented silicon steel prices remained generally stable, with strong wait-and-see sentiment in the market. Overall transaction performance was weak, as the industry widely awaited the latest pricing policy guidance from mainstream steel mills such as Baowu. Recently, ferrous metals futures were persistently in the doldrums, weighing on silicon steel market sentiment to some extent. Spot quotes remained generally stable, with minor room for negotiation on standard CGO grade resources. Price-wise, current high-permeability Hi-B silicon steel quotes remained relatively firm, while standard GO silicon steel quotes held steady.