According to an SMM survey, as of November 13, the operating rate of blast furnaces at 242 surveyed steel mills was 90.74%, up 0.14% WoW.

In October, China imported 103.838 million mt of iron ore and its concentrates, down 290,000 mt from the previous month, a slight decrease of 0.28% MoM; up 4.48% YoY.

According to SMM calculations, the capacity utilisation rate of mines in October 2024 was 55.9%, down 0.1% MoM.

On October 18, a new central state-owned enterprise enterprise, China Resources Recycling Group Co., Ltd., was officially established in Tianjin.

As of November 8, the total iron ore inventory at the 35 ports monitored by SMM reached 148.39 million mt, down 1.71 million mt WoW, up 37.64 million mt YoY.

Last week, the ferrous metals series fluctuated rangebound.

Manufacturers are inevitably passing the increase of silicon steel priced on to them. This translates to higher manufacturing costs for multiple electronic parts and a ripple effect on how tech companies price their products. Tighter margins could make it difficult for manufacturers to keep their prices competitive, and that of course is a big factor in the consumer electronics space. This might also lead companies to eventually scout for other materials that may not give benefit of performance traits as silicon steel.

According to an SMM survey, on November 6, the operating rate of blast furnaces at 242 steel mills surveyed by SMM was 90.60%, flat WoW.

Last week, the ferrous metals series continued to fluctuate rangebound, with the price center increasing slightly.

As of November 1, the total iron ore inventory at the 35 ports monitored by SMM reached 150.1 million mt, up 770,000 mt WoW and up 42.55 million mt YoY.