Latest Update in the SMM Other Materials Market

[SMM HRC & CRC Production Schedule Report: Steel Mills Resume Production After Annual Maintenance & Export Volume Increases, January HRC Production Schedule Up MoM] SMM HRC Production Schedule: Steel Mills Resume Production After Maintenance & Profitability Slightly Better Than Rebar, January HRC Production Schedule Increases SMM Steel, January 7: According to the latest tracking by SMM, the planned HRC commodity production volume of 39 mainstream steel mills in January totaled 14.2431 million mt, up 706,700 mt or 5.2% MoM compared to the actual HRC commodity production volume in December. After expanding the sample to 51 mainstream steel mills, the planned HRC commodity production volume in January totaled 17.4261 million mt, up 669,700 mt or 4.0% MoM compared to the actual HRC commodity production volume in December. In January, some steel mills in north and east China resumed production after annual maintenance, driving a rebound in HRC production. Additionally, as the off-season set in, demand for construction materials shrank rapidly, while manufacturing demand remained resilient. Steel mills reported moderate order-taking for cold and hot-rolled products, leading to increased production enthusiasm. On the other hand, steel mills actively delivered previous export orders this month. As a result, the planned HRC production schedule for January increased MoM.

[SMM Daily Review: Silver Prices Rose Slightly on January 7] The ex-factory reference average price of SMM #1 silver in the morning was 7,683 yuan/kg, with the average price rising by 46 yuan/kg compared to yesterday, an increase of 0.6%.

[SMM Zinc Annual Review: Zinc Futures and Spot Prices Rose Over 18% in 2024, Supply-Demand Imbalance Remains Prominent—Will It Improve in 2025?] Unlike the low-level fluctuations of zinc prices in 2023, zinc prices fluctuated upward in 2024, driven by favourable macro front and a supply-demand mismatch in zinc ore. As of the closing price on December 31, 2024, zinc prices reached 25,460 yuan/mt, marking an annual increase of 18.36%. A review of the entire year's zinc price trends also reveals that, in 2024, multiple favourable macro factors and a tight supply pattern on the supply side of zinc...

[December Operating Rates of Copper Billet Producers Continued to Rise Amid Peak Season Effect and Tariff Concerns] According to SMM, the operating rate of copper billet producers in December 2024 was 54.91%, up 1.23% MoM. Specifically, the operating rate of large enterprises was 58.68%, medium-sized enterprises 52.53%, and small enterprises 49.01%.

[SMM Silicon Daily Review: Spot Transactions for New Orders of Silicon Metal Face Challenges Amid Low Futures Prices] Silicon prices in east China slightly declined. Standard #553 silicon metal in east China was priced at 10,900-11,100 yuan/mt, while above-standard #553 silicon metal was at 11,100-11,200 yuan/mt, with the average price down by 50 yuan/mt.

Today, iron ore futures continued to drop slightly. The most-traded I2505 contract closed at 750, down 1.38% for the day. Mainstream transaction prices remained stable compared to yesterday. According to SMM statistics, this week, blast furnace maintenance affected pig iron production by 1.8441 million mt, down more than 150,000 mt WoW. Pig iron production is expected to rebound this week. However, bearish sentiment on future demand has put pressure on ore prices. Nevertheless, given the restocking demand from steel mills over the past two weeks, spot prices have received some support. ......

[SMM Daily Review on Coal and Coke] In terms of supply, coke profit per mt continues to narrow, but with the decline in coking coal costs, coke enterprises still maintain certain profitability. Meanwhile, with the relaxation of environmental protection policies, the capacity utilisation rate of coke enterprises has increased, leading to a continuous rise in coke production and growing pressure on their own inventories. On the demand side, end-use demand remains in off-season mode, and steel mills show low willingness to restock coke, maintaining a cautious purchasing attitude, with some mills controlling the arrival of goods. In summary, the operating levels of coke enterprises remain high, the fundamentals of the coke market are still relatively loose, and the coke market is expected to remain under pressure in the short term, with the sixth round of price cuts about to take effect.

From January to November 2024, global automobile sales reached 82.01 million units, with NEV sales at 16.07 million units.