Short-Term Ferrous Metals Continue to Move Sideways in a Consolidation Pattern [SMM Steel Industry Chain Weekly]
This week, the ferrous metals sector rebounded slightly overall, with divergence among products: iron ore and hot-rolled coil/rebar performed relatively strong, while coke was relatively weak. Early in the week, affected by sluggish end-use consumption in the off-season and continued pressure on steel mill profits, futures for all products consolidated and weakened; mid-week, driven by the combined effects of rumors of a BHP worker strike, the repeated US-Iran geopolitical conflicts, and rising expectations of environmental protection-driven production restrictions in Tangshan, iron ore and hot-rolled coil/rebar spot and futures prices saw a period of stabilization and rebound. However, from a fundamental perspective, the off-season characteristics on the demand side remained......