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...

[SMM Survey: Steel Mills' Profits Improved in October, Leading to Increased Blast Furnace Resumptions; Expected Iron Production to Peak in November] In October, a total of 7 blast furnaces underwent maintenance, while 18 blast furnaces resumed production, resulting in an increase of approximately 41,000 tonnes per day in average molten iron output. In November, 3 blast furnaces are scheduled for maintenance; 6 blast furnaces are planned to resume production, with the average daily molten iron output expected to increase by approximately 26,900 tonnes...

According to the SMM imported ore cost-profit statement, the profit of imported ore decreased slightly; on October 16, the blast furnace operating rate of 242 steel plants surveyed by SMM was 90.47%, up 0.29% from the previous month. The blast furnace capacity utilization rate was 91.09%, up 0.45% from the previous month. The average daily output of molten iron from sample steel plants was 2.4482 million tons, an increase of 13,000 tons from the previous month. The demand for iron ore is still on the rise. However, under the suppression of high supply and high inventory, the upward resistance of ore prices is relatively high. The industry is paying attention to the demand and inventory data of the five major materials tomorrow. On the macro side, the State Council Information Office will hold a press conference tomorrow to introduce the situation of the real estate industry, and the market expects new policies to be introduced. It is expected that ore prices may fluctuate on the strong side, and the profit of imported ore may still have room for increase.

According to SMM's import ore cost and profit statement, the profits of import ore have increased slightly; based on SMM's survey, as of September 25, the blast furnace operating rate of 242 steel plants surveyed by SMM was 89.40%, an increase of 0.65% from the previous month. The daily average output of molten iron at sample steel plants was 2.4252 million tons, an increase of 13,600 tons from the previous month. Meanwhile, the market continued to announce favorable policies, boosting market sentiment and pushing up iron ore futures prices. However, the high port inventories currently suppressed the rise in spot prices, leading to a narrowing of the futures-spot price spread. In the short term, iron ore futures prices may continue to fluctuate on the strong side, and the profits of import ore may have some room for minor gains.

[SMM Blast Furnace Operating Rate: Steel Mill Profits Improve, Small Increase in Molten Iron Output] According to SMM research, on September 18th, the blast furnace operating rate of 242 steel mills surveyed by SMM was 88.75%, up 0.13% from the previous month. Blast furnace capacity...