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  [SMM Coal and Coke Daily Brief] 20251124

  [SMM Daily Coke and Coal Briefing] In terms of supply, with coking coal costs declining, most coke plants remain profitable and maintain moderate production enthusiasm, leading to steady or slightly increased coke production. Demand side, finished steel destocking performance is weak, and steel mills are generally operating with low or negative margins, resulting in limited production motivation. After active replenishment, most steel mills have reached safe coke inventory levels and have shifted to purchasing as needed. Overall, the supply-demand structure of coke has shifted from tight to a weak balance, and the coke market is expected to remain stable in the short term.

• Iron Ore Port Arrivals Fell by Over 10.5%, Ore Prices Remain Relatively Firm [SMM Brief Review]

• [Domestic Iron Ore Brief Review] Iron Ore Concentrate Prices in Shandong Region May Edge Up Slightly

  [Domestic Iron Ore Brief: Iron Ore Concentrate Prices in Shandong May Edge Up] This week, Shandong-based mining enterprises reported prices for 64-grade alkaline powder on a dry basis, excluding taxes, at 871, up by 13. Mines and beneficiation plants largely maintained normal production as planned, selling output promptly with minimal inventory accumulation. However, steel mills remained in a loss-making situation and continued to adopt a relatively cautious approach to procurement.

• Baiyin Nonferrous Group Co., Ltd. today conducted a public tender for 66 mt of its #1 refined cadmium [SMM report].

• Baiyin Nonferrous Group Co., Ltd. today publicly tendered for 100 mt of crude cadmium [SMM report].