Latest Update in the SMM Finished Steel Market

Today, Dalian iron ore futures fluctuated upward, with the most-traded I2501 contract closing at 797.5 yuan/mt, up 1.14% for the day.

Producing pig iron is a step in making steel, as it serves as an intermediate material in the process.

The iron ore price index plays a role, for individuals in the mining and metals sector as it mirrors the shifts in iron ore prices. An ingredient, in steel manufacturing processes that have experienced notable changes influenced by global factors over time requiring experts to keep abreast of developments.

Today, iron ore futures moved downwards after a higher opening, with the most-traded contract I2501 finally closing at 786.5 yuan/mt, maintaining stability throughout the day.

On Monday, November 26, US President-elect Donald Trump reiterated his tariff plans on social media, including a 25 per cent duty on all imports from Mexico and Canada. According to Citibank analysts, the tariff on Mexico and Canada would affect the global commodity market, but the maximum impact would be on aluminium and steel.

China's automotive industry continues to show strong growth in the international market.

According to an SMM survey, the capacity utilisation rate of domestic iron ore mines was 59% last week, down 0.7% WoW; iron ore concentrates production was 787,000 mt, down 10,000 mt WoW;

According to SMM's tracking survey data, 21 blast furnaces underwent maintenance in November, reducing daily pig iron production by 99,000 mt, affecting a total of 1.3292 million mt of pig iron production for the month.