📌 Steel Market Update

Advisory Bazaar Info Services

• Iron ore futures declined due to higher inventories and steady blast furnace production, limiting price gains amid soft demand.

• The May iron ore contract on the Dalian Commodity Exchange fell 1.58% to 767.5 yuan ($110.48) per metric ton.

• Benchmark March iron ore on the Singapore Exchange dropped 1.85% to $100.6 per ton.

• Among 242 surveyed steel mills, the blast furnace operating rate rose to 86.41%, marking a 1 percentage-point week-on-week increase.

• Daily hot metal output increased by 21,000 tons compared to last week, indicating continued production support despite higher iron ore inventories.

• Many steel mills completed restocking before the Lunar New Year, limiting immediate demand for iron ore.

• Maintenance shutdowns at some blast furnaces and electric-arc furnaces have raised concerns about raw material demand.

• Due to profit pressures, some mills may resume production earlier than expected, which could support iron ore prices toward late February.

• In the Yunnan–Guizhou region, 7 out of 9 short-process steel mills will halt production for maintenance during the Lunar New Year; however, the average maintenance duration is expected to be shorter this year.

• Other steelmaking inputs, including coking coal and coke, also recorded declines.

• On the Shanghai Futures Exchange, benchmark steel products weakened— Rebar −0.61%, Hot-rolled coil −0.43%, and Stainless steel −0.61%, while wire rod posted a modest gain of 0.44%.