The "Golden March and Silver April" expectations fell short. Can steel prices rebound in May? The annual average spot rebar price in 2024 was 3,575 yuan/mt, while the average price from January to April 2025 was 3,310 yuan/mt, with the price center overall down by 265 yuan/mt.

【Steel Mill Price Adjustment】On April 25, Shougang Changzhi adjusted the construction steel prices: rebar, coiled rebar, and wire rod remained stable.

【Steel Mill Price Adjustment】On April 25, the guidance price for building materials from Anhui Changjiang Steel remained stable for rebar, coiled rebar, and wire rod.

【SMM Steel Morning Meeting Summary】The quoted price for low-sulphur coking coal in Linfen is 1,330 yuan/mt. The quoted price for low-sulphur coking coal in Tangshan is 1,370 yuan/mt. In terms of fundamentals, mines maintained normal operations, and supply remained stable. Downstream purchases were mainly based on previous orders, while traders were cautious in their purchases. Mines had fewer new orders, and shipments were sluggish. Auction transaction prices declined, and the number of failed auctions increased. The spot market for coking coal showed signs of weakening. In summary, the coking coal market is expected to gradually weaken in the short term.

SMM Rebar Daily Review: Macro News Disturbance, Market Falls into Wait-and-See "Fog" Today, rebar futures fluctuated downward, closing at 3,106, down 0.1% from the previous trading day. The futures market was in the doldrums, with strong market sentiment of wait-and-see and weak speculative willingness. The overall trading volume was lower than yesterday...

【SMM Construction Steel Inventory: Countdown to May Day Holiday, Steel Inventory May Accelerate "Slimming"】This week, the total inventory of construction steel continued to decline, with the total rebar inventory down 4.24% WoW and the total wire rod inventory down 7.67% WoW...

On April 24, the total rebar inventory this week was 6.5574 million mt, down 290,300 mt WoW, a 4.24% MoM decline, and a 23.18% YoY decline on a lunar calendar basis. The total wire rod inventory this week was 1.2851 million mt, down 106,700 mt WoW, a 7.67% MoM decline, and a 32.19% YoY decline on a lunar calendar basis.

【Steel Mill Price Adjustment】On April 24, Anhui Changjiang Steel adjusted the guidance price for building materials: rebar, coiled rebar, and wire rod increased by 20.