According to the SMM survey, in December 2024, the operating rate of 33 domestic sample independent pellet plants was 57.62%, up 2.8 percentage points MoM from November. The MoM changes still showed significant regional divergence, with growth mainly concentrated in Yunnan, Shandong, and Sichuan, while the operating rates in Jilin, Liaoning, Anhui, and Hebei declined. SMM expects the operating rate of independent pellet plants to decrease in January.

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 Weekly Maintenance Statistics] According to SMM statistics, this week (January 4 to January 10), the impact of blast furnace maintenance on pig iron output was...

Today, Dalian iron ore futures continued to decline. The most-traded I2505 contract closed at 751.5 yuan/mt, down 2.21% for the day. Today's trading sentiment was average. Transaction prices fell by 10-15 yuan/mt compared to last Friday. This week, shipments from Australia to China declined significantly, while Brazil's share of shipments to China increased sharply. Overall, the supply of imported ore decreased, easing supply pressure. Considering the current pre-holiday restocking concentration and the rebound in pig iron production, ore prices received some support. The downward space for iron ore is expected to be relatively small...

Domestic Iron Ore Brief: Iron Ore Concentrates Prices in Shandong Region May Fluctuate This week, the leading mines in the Shandong region reported a price of 852 yuan/mt, down by 3 yuan/mt, for 64-grade alkaline concentrates on a dry basis, tax-exclusive, and payment upon delivery. Most mines are operating normally, and steel mills have gradually started restocking ahead of the year-end. Some mines reported that steel mills are scrambling for supplies, with no inventory pressure.

[SMM Shipping Data: SMM Global Iron Ore Shipments Totaled 32.08 Million mt, Down 7.7% MoM] SMM global iron ore shipments totaled 32.08 million mt, down 7.7% MoM. Among them, Australian shipments were 18 million mt (down 7.7% MoM), Brazilian shipments were 7.62 million mt (down 5.2% MoM), and SMM China's iron ore port arrivals totaled 27.09 million mt (up 5.2% MoM).... ...

[Domestic Iron Ore Brief Review: Prices of Iron Ore Concentrates in Tangshan May Slightly Decline] The market for iron ore concentrates in Tangshan has started to weaken, with the delivery-to-factory price for 66-grade dry basis including tax at 960-970 yuan/mt. Leading steel enterprises have a strong desire to bargain down prices, making it increasingly difficult for local resources to rise again, and market transactions have consequently slowed down.