Latest Update in the SMM Pig Iron Market

Today, iron ore futures continued to drop slightly, with the most-traded I2505 contract closing at 769 yuan/mt, down 0.77% for the day. Traders showed low enthusiasm for selling, while steel mills remained cautious and exhibited average purchase willingness.

This week, the ferrous metals series prices fluctuated downward.

Today, iron ore futures fluctuated downward. The most-traded I2505 contract finally closed at 778.5 yuan/mt, down 2.63% throughout the day.

This week, HRC social inventory was 1.9187 million mt (up 16,500 mt WoW, up 0.87% WoW, down 7.88% YoY). This week, HRC in-plant inventory was 1.106 million mt (down 26,000 mt WoW, down 2.3% WoW, up 1.44% YoY). This week, total HRC inventory was 3.0247 million mt (down 9,500 mt WoW, down 0.31% WoW, down 4.68% YoY).

On December 10, data from the General Administration of Customs showed that China exported 9.278 million mt of steel in November 2024, down 17.0% MoM but up 15.9% YoY.

Today, iron ore futures fluctuated downward. The most-traded I2505 contract finally closed at 778.5 yuan/mt, down 2.63% throughout the day. Traders showed a weak willingness to sell, while steel mills were cautiously observing, with a slight increase in purchase willingness.

According to the SMM survey, as of December 18, the operating rate of blast furnaces at 242 steel mills surveyed by SMM stood at 85.47%, down 0.76 percentage points WoW.

Today, DCE iron ore futures rose initially but then fell, with the most-traded I2505 contract closing at 796.5 yuan/mt, up 0.06% for the day. Traders showed moderate enthusiasm for selling, while steel mills purchased as needed.