This week, the average price of SMM8-12% high-nickel pig iron was 953.3 yuan per nickel point (including tax, ex-factory), marking an increase of 6 yuan per nickel point compared to last week. Overall, the price of high-nickel pig iron has shown a slight upward trend this week.

This week, the average price of SMM 8-12% high-nickel pig iron was 941.9 yuan per nickel point (including tax, ex-factory), which is a decrease of 8.2 yuan per nickel point compared to last week. The price of high-nickel pig iron continues to face significant pressure.

According to SMM research, the amount of maintenance at steel mills producing construction steel increased slightly this week, with molten iron production peaking. More blast furnace maintenance is expected at steel mills in the future, which will affect construction steel production. The maintenance impact on construction steel output is 1.1138 million tons, an increase of 28,700 tons from last week on a week-on-week basis.

his week, the average price of SMM 8-12% high-nickel pig iron (NPI) was 974.7 yuan per nickel point (tax included, ex-factory), down 14.2 yuan per nickel point from last week. The FOB price in Indonesia was $116.6 per nickel point, down $1.77 per nickel point from last week, indicating a continued downward shift in high-nickel pig iron prices.

Today, iron ore prices continued their volatile trend. The main contract I2501 closed at 762.5, with a full-day decline of 0.20%. Traders shipped goods as per market conditions; steel mills made cautious inquiries and mostly adopted a wait-and-see attitude. The market trading atmosphere was desolate today. Transaction prices remained stable compared to yesterday's levels; this week, there was a significant resumption of production at five blast furnaces, combined with the commissioning of a new blast furnace. Looking ahead to next week, some steel mills in the northwest region still have plans for winter shutdowns of their blast furnaces. Coupled with recent contractions in steel mill profits and the current pressure of environmental production restrictions, blast furnace maintenance may accelerate, and it is expected that molten iron production will decline again. The future supply and demand dynamics of iron ore will weaken on both sides, and it is anticipated that ore prices will fluctuate within a narrow range...

[SMM Steel Morning Meeting Minutes: Construction Materials Logic Returns to Fundamentals; Short-term Steel Prices Expected to Remain Volatile] On the supply side, due to decreasing profits in construction materials, some steel plants have adjusted their production structures, redirecting molten iron to hot-rolled coils. Consequently, the supply of construction materials from steel plants will continue to decline in the coming period. On the demand side, the market is gradually entering its traditional off-season, and outdoor construction in the north will be successively affected. End-users maintain rigid demand for procurement, and market demand continues to decrease. Overall, with weakening macroeconomic influences, the logic behind construction materials has returned to fundamentals. It is expected that short-term steel prices will remain volatile...