[SMM Iron Ore] The first Cat 793 XE battery-electric trucks arrived at the Jimblebar mine for joint testing as an alternative to diesel

【SMM Steel】CSC clarified its local scrap purchases are for 2030 carbon goals, not a continuous trend. It targets high-quality clean scrap (unpainted H-beams, steel plates >6mm) unlike general EAF scrap. Dealers warn premium domestic supply is scarce, pressuring EAF mills to raise bids. CSC says it has no intention to disrupt the market or compete for standard raw materials.

[SMM Stainless Steel Daily Review] SS Futures Fell and Pulled Back, Spot Market Under Pressure SMM News, April 2: SS futures fell and pulled back. US ADP employment data showed elevated inflation levels, while geopolitical conflicts still showed no clear signs of easing in the short term. SS futures came under pressure and declined at the open, closing at 14,110 yuan/mt by the midday close. In the spot market, affected by the continued decline in futures, confidence in the spot market was clearly hit, wait-and-see sentiment among downstream end-users intensified, and inquiry and transaction activity further weakened. Meanwhile, with increased arrivals from steel mills at month-end and accumulating stainless steel social inventory, some traders showed stronger willingness to sell and slightly lowered quotations in an attempt to stimulate transactions. The most-traded SS futures contract remained in the doldrums. At 10:15 a.m., SS2605 was quoted at 14,110 yuan/mt, down 165 yuan/mt from the previous trading day. Spot premiums for 304/2B in Wuxi were in the range of 310-510 yuan/mt. In the spot market, the average price of cold-rolled 201/2B coil in Wuxi was unchanged; for cold-rolled trimmed 304/2B coil, the average price in Wuxi fell by 50 yuan/mt, while the average price in Foshan held steady; cold-rolled 316L/2B coil in Wuxi was unchanged; hot-rolled 316L/NO.1 coil in Wuxi was quoted flat; and cold-rolled 430/2B coil in both Wuxi and Foshan remained stable. At present, the stainless steel market has entered the traditional peak consumption season. Transactions among downstream end-users remained steady, but market sentiment turned cautious. End-user enterprises lacked willingness to stockpile, with procurement mainly driven by restocking based on immediate needs. The brisk transaction pattern typically seen in the peak season had yet to emerge, and overall demand remained stable and neutral. Futures...

This week, HRC social inventory was 3.4803 million mt, down 11,900 mt from the previous period, down 0.34% WoW, up 34.13% YoY, and up 21.43% YoY on a lunar-calendar basis. This week, HRC mill inventory was 1.1624 million mt, up 3,400 mt from the previous period, up 0.29% WoW, up 6.15% YoY, and up 1.64% YoY on a lunar-calendar basis. This week, total HRC inventory was 4.6427 million mt, down 8,500 mt from the previous period, down 0.18% WoW, up 25.83% YoY, and up 15.79% YoY on a lunar-calendar basis.