Today, iron ore futures opened low and closed high, with a significant increase throughout the day. The most-traded contract I2501 closed at 699.5 yuan/mt, up 4.64% for the day. Traders were moderately active in selling, and speculative transactions slightly increased;

The iron ore market continued its downward trend, with the most-traded contract I2501 closing at 658.5, down 4.5% for the day.

Used in the production of iron and steel, coking coal — also known as metallurgical coal — is a key raw material. It differs from thermal coal, which is primarily utilized for electricity generation. Coking coal has special characteristics that allow it to be heated at high temperatures in the absence of oxygen, whereby it is transformed into a porous carbon-rich material briquetting which are integral for steelmaking. The creation of this material is enhanced by coking, a process that allows the properties of metallurgical coke to reach their full potential and serves as a reducing agent in the blast furnace where iron ore can be transformed into crude iron.

Mold steel is a type of Tool steels that are used to make Molds in the industrial process, especially for Producing Plastic, Glass and Metal parts. This steel is recognized for its hardness, wear resistance and sharp edge retention; giving it amazing performance on applications where the production of complex shapes used as dies or molds are required. The applications of sample include injection and blow molding for plastic components and bottles, respectively.

According to the "Guidelines for Equipment Renewal and Upgrade in Key Industrial Sectors" released today by the Ministry of Industry and Information Technology, China plans large-scale equipment renewal in 27 key industries.

According to the SMM survey, on September 18, the operating rate of blast furnaces in 242 steel mills surveyed by SMM was 88.75%, up 0.13% WoW.

As of September 20, the total inventory at the 35 ports monitored by SMM reached 150 million mt, down 720,000 mt WoW and up 37.46 million mt YoY.

Last week, the social financing data showed that M1 declined 7.3% YoY in August, reflecting weak domestic demand.

According to the SMM survey, as of September 17, the operating rate of 50 major electric furnace steel plants producing rebar nationwide was 27.08%, up 0.66% WoW.

Last week, the ferrous metals series initially dropped and then rose.