Last week, the ferrous metals series prices fluctuated rangebound. In terms of news, at the beginning of the week, the central bank lowered the one-year and five-year LPR by 25 basis points; mid-week, the first round of coke price cuts was implemented; later in the week, the National Development and Reform Commission stated that a batch of incremental policy measures is still "on the way." In the spot market, steel prices fluctuated within a narrow range last week, end-use sector procurement was cautious, and market views on the future were mixed.
Looking ahead, macro meetings and policies are still expected, providing strong support for steel prices; recently, steel mill profits weakened, rebar production growth slowed, HRC production recovered slowly, and overall, the fundamental contradictions between coils and rebar were minimal; steel prices are expected to fluctuate upward this week, possibly rising slightly.
![Цены на магний растут три сессии подряд! Стоимостная сторона остаётся «раскалённой», в то время как сторона спроса с трудом перенимает инициативу [Комментарий SMM]](https://imgqn.smm.cn/usercenter/EutUV20251217171724.jpeg)
