📌 Steel Market Update

Advisory Bazaar Info Services

🔹 After six consecutive days of decline, iron ore futures showed a slight rebound as lower prices encouraged steel mills to increase purchases.

🔹 On the Dalian Commodity Exchange, the May iron ore contract rose 0.2% to 763 yuan ($110.42) per ton.

🔹 On the Singapore Exchange, the March benchmark iron ore gained 0.3% to $100.20 per ton, moving back above the $100 level.

🔹 According to Mysteel, iron ore shipments at 47 Chinese ports declined during February 2–8.

🔹 High port inventories and rising discharge rates continue to create supply-side pressure.

🔹 Shanghai Metals Market noted that elevated inventories could keep prices weak, with the timeline for destocking remaining uncertain.

🔹 ANZ Research stated that without government support, the iron ore market may remain challenging next year.

🔹 Coking coal and coke fell by 0.92% and 0.86% respectively, indicating weak demand and higher inventories.

🔹 Steel benchmarks on the Shanghai Futures Exchange remained under pressure — rebar down 0.42% and hot-rolled coil down 0.56%.