China | Iron Ore, Crude Steel, Hot Metal, Steel Billet, Rebar and Wire Rod

The 62% Fe fines index declined by 1.83% to $97.98/dmt CFR Qingdao.
High mid-grade ore inventories pressured port and seaborne prices.
Weak steel demand and deteriorating mill margins limited buying.
Mills increasingly preferred mid-grade ore because high-low grade blending was uneconomical.
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CISA-member crude-steel production declined by 4%.
Hot-metal production fell by 3%.
Finished-steel inventories at CISA mills declined from 18.33 million to 16.25 million tonnes.
High coking-coal costs continued to squeeze mill profitability.
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Tangshan billet ended the week near CNY 3,000/t.
Rebar export offers reached $505–515/t FOB China, but bids generally remained below $495.
Wire rod offers reached $505–515 FOB, while Fastmarkets assessed the market at $500–505/t FOB.
Billet offers were approximately $472/t FOB for 3sp, with an additional $5–8 for 5sp.