Daily price list of raw materials and fuels

Iron Ore: On November 24th, imported iron ore prices at Shandong ports were slightly stronger than the previous working day, rising by 3-5 points cumulatively. Traders in the region were generally not very active in quoting prices, with almost no transactions. On the buying side, steel mills in the region replenished their inventories only as needed, with few inquiries. Currently, the mainstream price for PB fines is 793-796; for super-fine fines, it's 670-675; and for PB lumps, it's around 880.

Coking Coal: On November 24th, market prices remained stable. Coking coal prices have risen for four consecutive rounds, and coupled with the recent pullback in raw material coking coal prices, coking plant profits have improved significantly, and overall operating rates have slightly rebounded. However, market sentiment has shifted, with some coking plants accumulating small amounts of coking coal inventory. Downstream, pig iron production is relatively high, and most steel mills are replenishing their inventories at a reasonable pace, supporting coking coal demand in the short term. However, with steel mills gradually reducing production and undergoing maintenance, coupled with the collapse in coking coal costs, a short-term price reduction for coking coal is expected.

Scrap Steel: On November 24th, the average price of heavy scrap steel in 45 major cities across China was 2040 yuan/ton, a decrease of 12 yuan/ton compared to the previous trading day. On the steel mill side, most mills saw scrap steel arrivals exceeding daily consumption. Shagang lowered its scrap steel purchase price by 40 yuan/ton, and some other mills also reduced their purchase prices. In the market, futures turned positive that day, but most market participants adopted a wait-and-see attitude. Currently, scrap steel from steel mills offers relatively high cost-effectiveness, and with winter stockpiling approaching, scrap steel prices are supported. Overall, the scrap steel market is expected to trade with a narrow upward bias in the short term.