1. BHP Billiton released its Q4 2025 production and sales report, showing that its Pilbara iron ore production reached 76.326 million tons, a 7.96% increase quarter-over-quarter and a 4.26% increase year-over-year.
2. According to the China Iron and Steel Association (CISA), in December 2025, China's crude steel production reached 68.18 million tons, a 10.3% decrease year-over-year, with a daily output of 2.1994 million tons, a 5.6% decrease month-over-month. From January to December, China's cumulative crude steel production reached 961 million tons, a 4.4% decrease year-over-year, with a cumulative daily output of 2.6324 million tons.
3. According to SMM, on January 17, 2026, the first batch of 200,000 tons of high-grade iron ore from Guinea's Simandou project arrived at Majishan Port, marking a significant shift in the global supply landscape. Although the project has a designed total annual capacity of 120 million tons, exports are projected to reach 18 million tons in 2026. 4. According to AmSpec, an independent inspection agency in Malaysia, Malaysia's palm oil exports from January 1st to 20th totaled 892,428 tons, an increase of 8.64% compared to 821,442 tons exported during the same period last month. According to data from shipping survey agency ITS, Malaysia's palm oil exports from January 1st to 20th totaled 947,939 tons, an increase of 11.4% compared to 851,057 tons exported during the same period last month.
5. According to customs data, China imported 23,989 tons of lithium carbonate in December, an increase of 9% month-on-month and a decrease of 14% year-on-year. Of this, 14,000 tons were imported from Chile, accounting for 56% of total imports; and 8,470 tons were imported from Argentina, accounting for 35% of total imports. From January to December, China's cumulative lithium carbonate imports reached 243,000 tons, a cumulative year-on-year increase of 3.4%.
6. The Shanghai Futures Exchange (SHFE) announced that, effective from the closing settlement on January 22, 2026 (Thursday), the daily price fluctuation limit for listed copper futures contracts will be adjusted to 8%, the margin requirement for hedging positions to 9%, and the margin requirement for general positions to 10%; the daily price fluctuation limit for gold futures contracts AU2602, AU2603, and AU2604 will be adjusted to 16%, the margin requirement for hedging positions to 17%, and the margin requirement for general positions to 18%; the daily price fluctuation limit for silver futures contracts AG2602, AG2603, and AG2604 will be adjusted to 17%, the margin requirement for hedging positions to 18%, and the margin requirement for general positions to 19%.
7. Shanghai released the "Action Plan for Strengthening Futures-Spot Linkage and Enhancing the Capacity of Non-ferrous Metal Commodities," which mainly includes three parts and 18 measures. This includes expanding the high-level institutional opening-up of the Shanghai Nonferrous Metals Futures Market, gradually including eligible nonferrous metal commodity futures and options products into the scope of products open to foreign investment, and simultaneously improving business rules to match these open products.
8. Rio Tinto stated that its aluminum production in 2025 will be 3.38 million tons, higher than the guidance range of 3.25 million to 3.45 million tons. Copper production in 2025 is projected at 883,000 tons, higher than the guidance range of 860,000 to 875,000 tons.
Fourth-quarter copper production was 240,000 tons, a year-on-year increase of 5%; aluminum production was 850,000 tons, a year-on-year increase of 2%. The rapid growth in global electric vehicle sales has boosted confidence in the lithium industry.
9. Data from the International Aluminium Institute (IAI) shows that global primary aluminum production in December 2025 will be 6.296 million tons, compared to 6.266 million tons in the same period last year, with the previous month's figure revised to 6.085 million tons. China's primary aluminum production in December is projected to be 3.767 million tons, with the previous month's figure revised to 3.646 million tons.
