STEEL MARLET WEEKLY NEWS

CHINESE DOMESTIC MARKET

1. Coke Prices Plummet to 8-Year Low, Impacting Steel Futures​

Coke prices recently hit an 8-year low due to supply-demand imbalance and cost-side collapse. This downturn dragged down the futures market, with rebar futures dropping 1.67%. Orient Futures increased short positions by nearly 22,000 lots. Weak market demand and the approaching traditional off-season from June to August are major reasons behind the recent steel price cuts.

2. Lei Jun has invested in the steel industry and developed Xiaomi's ultra-strong steel with a strength of 2200 MPa

Lei Jun, the founder of Xiaomi, has made a significant investment in the steel industry. After intensive R&D, Xiaomi has successfully developed a 2200 MPa ultra-strong steel. This new material, with its high strength, is set to be mainly applied in the structural components of new-energy vehicles. It's expected to enhance vehicle safety and performance, marking a new step forward for Xiaomi in the automotive materials field.

3 . Lianyuan Steel Successfully Produces High-End RC50 Chromium-Free Anti-Fingerprint Steel for 3C Electronics
Lianyuan Steel (LISCO) has achieved a breakthrough in high-precision steel production, successfully rolling out RC50 chromium-free anti-fingerprint steel on its galvanizing line. Designed for premium 3C electronics (computers, communications, consumer electronics), the product offers a superior surface finish, corrosion resistance, and fingerprint resistance without chromium usage, aligning with environmental standards.

OVERSEAS MARKET

1. Europe-North America Shipping Routes Face Rising Costs and Delays

Shipping between Europe and North America is getting more expensive and harder to book. Freight rates on the four main ocean routes have shot up, while available cargo space remains extremely tight. Origin ports are heavily congested, causing big delays in loading ships. Carriers are working to clear huge backlogs of cargo, but shippers are facing longer wait times and higher costs.

2 . Severe situation! South Korea's largest single-scale steel mill has also started "voluntary production control

Dongkuk Steel's Incheon Plant, the largest steel production base in South Korea, has suspended operations to "stabilize the supply and demand of steel bars." As the largest single-plant steel production base in the country, the shutdown is expected to affect approximately 200,000 tons of steel bar supply.

3. See the light at the end of the tunnel! Will the market come to a turning point as Indonesia's Tsingshan halts production?

According to market sources, Indonesia's Tsingshan will suspend production from now for 3 months and resume in August. Production on all 201 lines will be halted, with a total reduction of approximately 200,000 tons in 304 stainless steel production. Additionally, major domestic stainless steel mills will begin mid-year maintenance and production cuts in June.

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