1. According to the China Iron and Steel Association (CISA), based on data from the long-term coal-steel linkage scheme for coking coal, the price fluctuation value of the long-term coal-steel linkage scheme for coking coal in December 2025 is expected to decrease by 55 yuan/ton compared to November 2025, a drop of 3.6%.
2. Mysteel statistics show that the total inventory of imported iron ore at 47 Chinese ports reached 166.8236 million tons, an increase of 2.4621 million tons from the previous Monday. During the period, the volume of cargo unloading and storage at ports generally exceeded the total volume of cargo leaving, indicating a continued accumulation trend in port inventories.
3. Xinhua News Agency reports that the Central Rural Work Conference was held in Beijing from the 29th to the 30th. The conference emphasized that agricultural and rural modernization is crucial to the overall situation and quality of China's modernization, and it is imperative to accelerate the construction of a strong agricultural nation. It stressed the need to stabilize grain and oil production, intensify the implementation of a new round of actions to increase grain production capacity by 100 billion jin (50 million tons), and promote the improvement of grain varieties and quality.
4. Data released by the Price Monitoring Center of the National Development and Reform Commission shows that in the fourth week of December 2025, the national ex-farm price of live pigs was 11.94 yuan/kg, up 0.17% from the previous week, marking the second consecutive week of increase. Based on current prices and costs, the average loss per pig in the future piglet-to-fatten model is estimated at 260.95 yuan.
5. The Brazilian National Association of Grain Exporters (ANEC) stated that Brazil's soybean exports in December are expected to be 3.02 million tons, compared to 3.57 million tons the previous week. Brazil's corn exports in December are also expected to be 3.52 million tons, compared to 6.35 million tons the previous week. Brazil's soybean meal exports in December are expected to be 1.87 million tons, compared to 2 million tons the previous week.
6. Three OPEC representatives stated that due to increasing signs of a global oil supply glut, OPEC+ is expected to maintain its plan to suspend production increases at its meeting this weekend.
7. According to the China Agricultural Materials Circulation Network, the price of sulfur, a raw material for phosphate fertilizer, has been high recently, which is unfavorable for winter storage and spring planting fertilizer preparation. At this critical moment, relevant central enterprises are coordinating their own sulfur resources and solemnly pledge to resolutely fulfill their responsibility to ensure the supply and stabilize the price of phosphate fertilizer!
8. According to foreign media reports, a few days ago, Guinea International Company (GIC), a wholly-owned subsidiary of Guinea, finally received formal authorization from the Ministry of Mining and Geology to resume bauxite mining and export activities in the Boffa and Fria regions.
9. According to SMM, a medium-sized recycled lead smelter in Southwest China plans to reduce its output by 20%-30% in January. This is mainly due to the continued tight supply of raw materials and the decreasing amount of raw materials arriving at the plant. The company is taking measures to reduce production to cope with the pressure on the raw material side and stabilize its production pace.
10. According to Mysteel's research, the RKAB nickel ore quotas applied for and approved in 2026 will officially start at midnight on January 1, 2026. During the RKAB launch process, it is necessary to ensure that IUP holders have completed the 2025 Production Realization Report and uploaded the 2025 year-end inventory measurement report provided by the surveyor. This serves as a reference for the availability of product inventory at the end of 2025, and the inventory can be carried forward to 2026.
11. COMEX gold futures rose 0.20% to $4352.30 per ounce, and COMEX silver futures rose 7.88% to $76.02 per ounce, recovering from the previous losses caused by the increase in margin requirements.
