On April 27th, the domestic steel market as a whole showed an upward trend. Boosted by the significant strengthening of steel futures in the night trading session on Friday, most steel mills raised their quotations the next day, leading to a strong bullish sentiment in the market and a general rebound in spot prices. However, some merchants have reported that despite the positive upward trend in the market, terminal steel-consuming enterprises remain cautious in their purchases, mainly replenishing inventories as needed. Speculative demand has not significantly increased either, and the overall transaction performance has been relatively stable. 01#

TODAY’S INFORMATION \ n \ nThe US side has made a clear statement: The precondition for the cancellation of tariffs on China is that China makes “substantive concessions”. On April 25 local time, US President Joe Biden restated the position on tariffs on China to the media on the “Air Force One” special plane, clearly stating that the US will not cancel tariffs on Chinese goods “unless China makes substantive concessions”. This statement further strengthened the US strategy of using tariffs as a bargaining chip in economic and trade games with China, highlighting the ongoing stalemate in trade policies between the two sides. At present, China has repeatedly emphasized its opposition to unilateral sanctions and trade bullying, and called for resolving differences through equal consultation. However, the US has been exerting pressure on the grounds of “fair competition”, and it is unlikely that the tariff deadlock will be substantially broken in the short term. The consensus on production cuts in the industry urgently needs unified action. Leading enterprises should take the lead in combating internal competition and strengthening self-discipline to promote market order. Luo Tiejun, a member of the Standing Committee of the Party Committee and vice president of the China Iron and Steel Association, said that against the backdrop of current demand decline and market downturn, production cuts have become a consensus in the industry and urgently need to be transformed into unified action. We should give full play to the leading role of leading enterprises, oppose internal competition, strengthen self-discipline, and promote the orderly development of regional and variety markets. This week, the blast furnace operating rate, profit margin and molten iron output of 247 steel mills all rose month-on-month, and the production momentum of steel mills continued to strengthen. The operating rate of blast furnaces in 247 steel mills was 84.33%, an increase of 0.77 percentage points month-on-month. The profit rate of the steel plant was 57.58%, increasing by 2.60 percentage points quarter-on-quarter and 6.93 percentage points year-on-year. The average daily output of molten iron was 2.4435 million tons, an increase of 42,300 tons compared with the previous period.