Mysteel Morning News

Hebei Steel Mills Announce Third Round of Coke Price Cuts

Effective 00:00 on June 6, 2025: Rammed wet-quenched coke prices reduced by 50 yuan/ton; rammed dry-quenched coke down 55 yuan/ton. Top-charged wet-quenched coke prices cut by 70 yuan/ton; top-charged dry-quenched coke down 75 yuan/ton.

Guangxi Cement Price Hike Planned

According to 100njz.com research, multiple cities in Guangxi (Nanning, Hechi, Chongzuo, Qinzhou, Fangchenggang, Baise) plan to raise cement prices by 30-40 yuan/ton on June 5.

Steel Mill Cost & Profitability (End-May)

Average cost for rebar across 91 blast furnace steel mills: 3,060 yuan/ton (loss of 44 yuan/ton). Hot-rolled coil cost: 3,157 yuan/ton (profit of 30 yuan/ton). Details >>

Tangshan Steel Billet Costs & Profits (This Week)

Average billet cost for mainstream Tangshan mills: 2,862 yuan/ton (down 27 yuan/ton WoW). Compared to June 4 billet price of 2,900 yuan/ton, average profit is 38 yuan/ton.

SASAC Director Conducts Intensive Industry Research

SASAC Director Zhang Yuqiao recently visited companies across energy, steel, metal mining, and environmental protection. Key themes included enhancing product/service value-add, resource integration, synergy, and industrial upgrading.

20 Cities Selected for Central Gov't Urban Renewal Funding

Ministries of Finance and Housing selected Beijing, Tianjin, and 18 other cities for 2025 central fiscal support for urban renewal actions.

MIIT Promotes AI for New Industrialization

MIIT plans to coordinate general and industry-specific large AI models, improve hardware-software compatibility, accelerate high-quality industry datasets, and boost intelligent manufacturing.

US Economic Data & Commentary

• ADP Employment (May): +37K (vs. +110K expected; prior +62K). Slowest pace since March 2023.
• President Trump: "Powell must cut rates now."
• Fed Beige Book: Economic activity slowing, labor demand easing.
• CBO: Trump tariffs would reduce deficit but also drag on economy.

June 4 Market Transactions

• Iron ore port transactions: 1.066 million tons (up 28.7% MoM).
• Rebar transactions (237 major traders): 126,200 tons (up 33.5% MoM).

June 4 EAF Mill Costs & Profits

Avg. cost for 76 independent EAF rebar mills: 3,264 yuan/ton (down 1 yuan/ton DoD). Avg. loss: 139 yuan/ton; off-peak loss: 35 yuan/ton.

May Steel Billet Resources

Total billet resources at national sample distributors: ~2.8 million tons (down 370,000 tons MoM, -11.64%; up 180,000 tons YoY, +6.82%).

This Week Coal Washing Plant Data (110 samples)

• Operating rate: 60.59% (down 0.96 ppt WoW).
• Daily output: 514,600 tons (down 3,100 tons).
• Raw coal inventory: 3.2741 million tons (up 164,300 tons).
• Clean coal inventory: 2.4506 million tons (up 229,900 tons).

Shuigang Blast Furnace Restarted

Shougang Shuigang restarted a 2,500m³ BF and rolling mill on June 4, adding 6,000 tons/day of rebar capacity.

Baowu's Australian Iron Ore Project

Baowu Chairman Hu Wangming inspected the Ashburton Iron Ore Project in Australia (June 4). The project is ramping up, targeting full-system capacity of 30 million tons/year by Q3.

Xinsteel & Shagang Sign Strategic Agreement

The steel groups signed a deal on June 3 to jointly tackle market challenges and explore high-quality development paths for metal products.

National Energy Agency Launches Power System Pilot

First batch of new power system pilots announced, focusing on integrating green power for data centers with renewable resources.

Property Market Data (May 26 - June 1)

New home sales area in 10 key cities: 1.7768 million sqm (down 8.7% WoW; down 27.1% YoY). Details >>

National Old Residential Area Renovation Plan

2025 Target: Renovate 25,000 old urban residential areas. Jan-Apr progress: 5,679 started (per MOHURD).

NEV Sales Highlights (as of June 4)

5 of 13 major automakers reported May NEV sales: 11 saw YoY growth. XPeng deliveries surged 230% YoY. Details >>

Key Upcoming Economic Indicators

• 09:45 (June 5): China May Caixin Services & Composite PMI
• 20:15: ECB Policy Rate Decision
• 20:30: US April Trade Balance; Initial Jobless Claims (week ending May 31)