1. The Dalian Commodity Exchange (DCE) announced that, after research and deliberation, effective from the settlement on December 30, 2025 (Tuesday), the daily price fluctuation limit for coking coal and coke futures contracts will be adjusted to 10%, while the trading margin level will remain unchanged; the daily price fluctuation limit and trading margin level for other futures contracts will remain unchanged.
2. The Infrastructure Development Department of the National Development and Reform Commission (NDRC) published an article entitled "Accelerating the Construction of a Modern Infrastructure System." The article points out the need to solidify the foundation for ensuring coal supply, accelerate the release of high-quality coal production capacity, steadily increase physical reserves of coal, oil, and natural gas, and orderly promote the construction of national coal-to-oil and gas strategic reserve bases.
3. According to Mysteel, as of the week ending December 25, rebar production increased for the second consecutive week, mill inventories shifted from decline to increase, social inventories declined for the eleventh consecutive week, and apparent demand shifted from increase to decrease. Among them, rebar production was 1.8439 million tons, an increase of 27,100 tons from the previous week; mill inventory was 1.4006 million tons, an increase of 5,200 tons from the previous week; social inventory was 2.9419 million tons, a decrease of 188,100 tons from the previous week; and apparent demand was 2.0268 million tons, a decrease of 59,600 tons from the previous week.
4. On December 25th, Zhaotong City, Yunnan Province, ordered all coal mines in the city to temporarily suspend production, effective immediately, for an expected duration of three days. The specific resumption time or whether the suspension period will be extended is unknown. Zhaotong City's total coal production capacity is approximately 9.85 million tons, of which Zhenxiong County has a capacity of 6.85 million tons, making it Zhaotong's main coal-producing area.
5. Data from shipping survey agency ITS shows that Malaysia's palm oil exports from December 1st to 25th were 1,058,112 tons, an increase of 1.6% compared to the 1,041,935 tons exported in the same period last month.
6. A commodity research report released by an institution shows that Argentina's corn production for 2025/26 is projected at 54.1 million tons, a 1% downward revision from the previous estimate, with a forecast range of 46.8-59.9 million tons, due to the risk of drought in the Pampas region.
7. According to Longzhong Information, as of December 25, 2025, the total inventory of float glass sample enterprises nationwide was 58.623 million weight boxes, an increase of 65,000 weight boxes month-on-month, a growth of 0.11%, and a year-on-year increase of 29.63%; the inventory days were 26.5 days, unchanged from the previous period. The total inventory of domestic soda ash manufacturers was 1.4385 million tons, a decrease of 61,900 tons from Monday, a drop of 4.13%; and a decrease of 60,800 tons from last Thursday, a drop of 4.06%.
8. The Guangzhou Futures Exchange (GZFE) announced that, effective from the start of trading on December 29, 2025, the transaction fees for polysilicon futures contracts PS2601, PS2602, PS2603, PS2604, PS2605, PS2606, PS2607, PS2608, PS2609, PS2610, PS2611, and PS2612 will be adjusted to 0.05% of the transaction amount. The transaction fee for intraday closing will also be adjusted to 0.05% of the transaction amount. The minimum order size for each trading order will be adjusted from 5 lots to 10 lots, while the minimum order size for each closing order will remain at 1 lot. The daily opening position size for each contract shall not exceed 50 lots.
9. According to 21st Century Business Herald, Tianqi Lithium has decided that, starting January 1, 2026, all spot transaction settlement prices will no longer reference SMM prices, but will be adjusted to one of two pricing methods—Mysteel's premium battery-grade lithium carbonate/lithium hydroxide price or the Guangzhou Futures Exchange's main lithium carbonate contract price—allowing its customers to choose.
10. Wanrun New Energy announced that, starting December 28, 2025, the company will conduct planned production reduction maintenance on some production lines, with the maintenance expected to last for one month. This maintenance is expected to reduce the company's lithium iron phosphate production by 5,000 to 20,000 tons.
11. According to the Securities Times, market sources indicate that on the afternoon of December 25, four leading silicon wafer companies jointly and significantly raised their prices. Sources from multiple silicon wafer manufacturers confirmed the price increase, and industry insiders generally report that the price increase is mainly due to the significant rise in upstream polysilicon prices.
