[SMM Survey] SMM December Independent Pellet Plant Operating Rate Increased by 2.8%, Expected to Decline in January

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.