Data: SHFE, DCE market movement (Apr 23)

Today, iron ore futures showed a weak trend, with the main contract I2609 closing at 783.5 yuan/ton, down 0.32% from the previous trading session. Spot prices have decreased by 0–2 yuan/ton so far.

【SMM Steel】Tata Steel signed a final agreement with SMS group's Paul Wurth to introduce EASyMelt technology at its Jamshedpur plant. The project marks the first industrial-scale demonstration of the electrified smelting process at BF E. EASyMelt combines electricity with syngas, reducing coke reliance while allowing flexible fuel use (natural gas, hydrogen, ammonia). The technology offers a cost-effective decarbonization pathway by retrofitting existing assets, cutting CO₂ by >50%. The move supports Tata Steel's 2045 net-zero target.

[SMM Steel] Vietnam imported approximately 3.62 million mt of steel in Q1 2026, valued at around $2.61 billion, according to customs data. Import volumes and value declined by 3.33% and 1.52% YoY, respectively, while the average import price rose 1.86% YoY to $719.85/mt. China remained the largest supplier, accounting for over 40% of total import value, underscoring its dominant role in Vietnam’s steel import structure.