[SMM Iron & Steel] Hoa Phat Boosts Green Energy at Dung Quat Steel Complex

[SMM Stainless Steel Daily Review] SS Futures Surged to a New Periodic High, Stainless Steel Spot Prices Followed the Rally with Cautious Demand On April 17, SMM reported that SS futures continued their strong upward momentum. Market sentiment was bullish. Starting from the night session, SS futures embarked on a strong upward trajectory, reaching an intraday high of 15,175 yuan/mt, a new high since 2023. As of the midday close, the most-traded SS contract was quoted at 15,105 yuan/mt. Spot market side, driven by the sharp rally in SS futures breaking through the periodic high, spot traders raised their quotes in tandem. Although end-user clients became more cautious in purchasing due to the rapid price surge, procurement volumes from basis-trading institutions increased. Moreover, the price rally widened traders' room for concessions, and some lower-grade products began to be shipped at discounted prices. Currently, SS futures surged sharply driven by capital inflows, with gains significantly outpacing those on the raw material side, posing a certain pullback risk in the market. The most-traded SS futures contract strengthened. At 10:15 AM, SS2605 was quoted at 15,095 yuan/mt, up 305 yuan/mt from the previous trading day. Spot premiums for 304/2B in the Wuxi area ranged from -125 to 75 yuan/mt. In the spot market, the average price of cold-rolled 201/2B coils in Wuxi rose by 50 yuan/mt; for cold-rolled trimmed-edge 304/2B coils, the average price in Wuxi rose by 150 yuan/mt and in Foshan by 150 yuan/mt; cold-rolled 316L/2B coils in the Wuxi area remained stable; for hot-rolled 316L/NO.1 coils, Wuxi quotes rose by 50 yuan/mt; cold-rolled 430/2B coils in Wuxi and Foshan...

[Loose Pattern Unchanged, GO Silicon Steel Prices Expected to Remain Stable Next Week] Currently, demand in the downstream transformer industry is clearly diverging. Orders for high-end projects such as ultra-high voltage and data center supporting facilities remain stable, underpinning demand for high-grade Hi-B silicon steel. However, orders for ordinary distribution transformers are sluggish, with demand for mid-to-low-grade resources remaining persistently weak. Most transformer enterprises maintain strategies of just-in-time procurement and low inventory operations, resulting in limited market purchasing enthusiasm. The supply side exhibits structural looseness, with ample circulating resources of ordinary CGO grain-oriented silicon steel in the market. Some small and medium-sized traders are offering slight price concessions to accelerate capital turnover. Meanwhile, high-end grade resources such as high magnetic induction and ultra-thin specifications remain tight, with top-tier enterprises holding firm on their quoted prices.