Here are some of the latest news from the steel industry:
### Market data
- **Increase in hot metal production at steel mills**: According to Mysteel statistics, as of March 7, 2025, the average daily hot metal production of 247 sample steel mills in March was 2.3051 million tons/day, a weekly increase of 25,700 tons/day and a year-on-year increase of 76,500 tons/day. The blast furnace operating rate of steel mills was 79.51%, a weekly increase of 1.22% and a year-on-year increase of 3.43%.
- **Fall in raw material prices**: As of March 7, 2025, the price of primary metallurgical coke was 1,490 yuan/ton, down 250 yuan/ton from the beginning of the year and 700 yuan/ton year-on-year; Mysteel Qingdao Port PB powder imported ore price index was 100.8 US dollars/dry ton, down 0.45 US dollars/dry ton from the beginning of the year and 17.15 US dollars/dry ton year-on-year.
- **Inventory decline of the five major varieties**: As of March 7, 2025, the total inventory of the five major steel products this week was 18.6029 million tons, a weekly decrease of 188,300 tons, a decrease of 1%, the factory inventory decreased by 166,200 tons, a decrease of 3.09%, and the social inventory decreased by 22,100 tons, a decrease of 0.16%.
- **Consumption growth**: As of March 7, 2025, the weekly consumption of the five major varieties this week was 8.5311 million tons, a weekly increase of 3.12%, a monthly increase of 48.18%, and a year-on-year increase of 7.39%, of which the consumption of building materials increased by 23.18% year-on-year.
### Market dynamics
- **Prices fluctuated downward**: According to Hexun.com, steel prices fluctuated downward this week, and the national average price of rebar fell by 39 yuan/ton month-on-month. With the increase in the resumption rate of downstream operations, the spot market has turned positive, but the overall sentiment is cautious, and transactions in various markets are still good, and prices have fallen.
### Industry conferences and suggestions
- **Suggestions on the steel industry at the two sessions**: Member Qian Gang proposed three suggestions on promoting the high-quality development of special steel for the aviation industry; Member Hu Wangming suggested accelerating the intelligent transformation of traditional manufacturing to promote the high-quality development of the industry.
### Enterprises
- **Equity changes**: Ningbo Baoxin's two Japanese shareholders withdrew, and Taigang Group's shareholding increased to 73.97%.
### Market analysis
According to relevant analysis, China's steel supply and demand pattern is still being optimized, and the overall supply and demand are in a relatively tight balance. In March, steel prices may be suppressed first and then rise, but they do not have the momentum for a sharp rebound. We still need to pay attention to the output of molten iron, the speed of reduction of factory and social warehouses, and tariff barrier policies.
