News

Today, the DCE iron ore market trended weaker. The benchmark contract, I2605, closed at 761.5 RMB/tonne, down 0.46% from the previous trading session. Spot prices in the physical market fell by 1–3 RMB/tonne compared to the prior day.

Omani manufacturer United Solar Holding has commenced production at its polysilicon facility in the Sohar Freezone, targeting an annual capacity of 100,000 metric tons, which enough to support 40 GW of solar modules. The milestone follows the closure of a massive debt financing package in mid-January totaling over $900 million, split between a $480 million facility led by the International Finance Corporation (IFC) and over $400 million from local commercial banks. The project's largest shareholder, Future Fund Oman, has increased its stake to approximately $260 million.

[SMM Hot-Rolled Coil Daily Trading] On February 9, the total daily trading volume of hot-rolled coil from SMM's four-city (Shanghai, Lecong, Tianjin, Ningbo) sample enterprises was 6,650 mt, down 2,490 mt (-27.2%) WoW, up 68.98% YoY, and up 46.15% compared to the same lunar calendar period.

Easpring Technology (300073.SZ) announced that the company and ProLogium Technology signed the "Strategic Cooperation Framework Agreement" on February 6. The two parties intend to strengthen cooperation in the fields of solid-state batteries and the new energy industry, fully leverage their respective technical advantages, and establish a comprehensive strategic partnership in areas such as equity investment, cooperation on battery materials, mass production, and supply.

[SMM Flash] According to relevant reports, on February 9, a batch of 103.5 mt of imported aluminum scrap arrived at the Chongqing Yongchuan Port Customs supervision site, marking the successful implementation of the pilot program for optimizing the inspection and supervision model for imported aluminum scrap via river-sea intermodal transport in Chongqing, the first of its kind nationwide.

[Aluminum Alloy Daily Review] Entering the last trading week before the Chinese New Year, as upstream and downstream secondary aluminum alloy enterprises gradually closed for the holiday, spot market trading noticeably slowed, and enterprise quotations mostly adjusted in line with the mark.

The Eurozone Sentix Investor Confidence Index for February was positive 4.2, compared to negative 1.8 in the previous month.

[Domestic Iron Ore Brief: Shandong Region Iron Ore Concentrates Prices May Remain in the Doldrums] This week, Shandong region mines and beneficiation plants offered 64-grade alkaline powder dry basis pre-tax acceptance ex-mine price at 851, down 17. Steel mills synchronized price cuts, while miners mostly maintained normal production. Inventory saw a slight accumulation. Steel mills have largely completed stockpiling, maintaining routine procurement. Coupled with the approaching Chinese New Year, overall market transactions remained relatively sluggish. Additionally, recent iron ore futures...

[SMM Daily Coking Coal and Coke Brief] Supply side, coking plants maintained stable overall production and focused on active shipments, but market wait-and-see sentiment was strong, and the pace of shipments at some coking plants slowed down. Demand side, end-use demand for finished steel performed poorly, blast furnace maintenance at steel mills increased, and coupled with the fact that coke inventory at steel mills had reached reasonable levels after restocking, steel mills currently mainly purchased as needed. In summary, the coke market was generally stable with a slight fall this week.

[Lead-Acid Battery Production Update] A major domestic lead-acid battery producer will suspend all production during the Chinese New Year holiday, with routine inquiries scheduled for tomorrow and lead ingot procurement ceasing from this Wednesday.

[Steel Mill Maintenance] Handan Iron & Steel commenced maintenance on a 3,200m³ blast furnace on February 6, which is expected to last until March. The daily average hot metal production impact is estimated at approximately 7,300 mt. [SMM Steel]

[Steel Mill Maintenance] Ansteel Bayuquan is expected to commence maintenance on a 4,000m³ blast furnace on February 25, with the maintenance period anticipated to last 26 days. The daily average hot metal production impact is estimated to be around 9,000 mt. [SMM Steel]