China PPI for June -5.4% y/y (expected -5.0%)

Ukraine-focused miner Ferrexpo posted an 18% jump in second-quarter production from the previous quarter, buoyed by stable production from first pelletiser line and initial contribution from second line after resumption in February.

Steelmaker Ternium said on Wednesday it had resumed operations at an iron-ore mine in Mexico after a more than five-month hiatus sparked by clashes between the firm and local community over the disappearance of two environmental activists.

Steel prices are expected to rise again soon.

Broken down by districts, here’s production for the week ending July 1, 2023 in thousands of net tons: North East: 137; Great Lakes: 563; Midwest: 215; Southern: 758 and Western: 67 for a total of 1740.

Inner Mongolia is by far the biggest in terms of market share in the first four months of 2023, with 36.34%, while Ningxia was second on 12.24%.

Ferro-alloys is a highly energy-intensive industry and one of the key sectors attracting the attention of government departments and industry market participants over its progress in terms of its green development.

With the rapid development of ferro-alloys futures trading, Chinese steelmakers are increasingly using the newly-introduced futures-spot basis pricing pattern to hedge risk, according to Hao Zhu.