Latest Update in the SMM Coke Market

Today, iron ore futures fluctuated, with the most-traded contract I2501 closing at 783 yuan, up 0.32% for the day. Traders were actively selling, while steel mills remained cautious and restocked as needed.

Last week, the most-traded iron ore contract I2501 remained strong for the first four days but fell again on the last working day.

Last week, steel mills in north-east China were the first to announce their winter stockpiling policies, marking the start of the traditional winter stockpiling season.

SMM, Nov 26: As December approaches and year-end nears, the production schedule for modules is expected to decline, and as a result, the demand for backsheets, an auxiliary material for modules, may weaken further in December.

The market has entered the traditional winter stockpiling season again, and currently, steel mills in north-east China have taken the lead in announcing winter stockpiling policies.

As of November 22, the total iron ore inventory at the 35 ports monitored by SMM reached 148.86 million mt, up 350,000 mt WoW and up 38.37 million mt YoY.

Last week, the ferrous metals series slightly strengthened after bottoming out two weeks ago.

SMM global iron ore total shipments were 32.88 million mt, down 0.6% WoW.