1. Australian mining company Fenix Resources released its Q1 2026 production and sales report. Iron ore production in Q1 2026 was 993,000 tons, down 6% quarter-on-quarter but up 49% year-on-year. Iron ore shipments were 974,000 tons, down 22% quarter-on-quarter but up 38% year-on-year.
2. According to Mysteel, as of the week ending April 23, rebar production reversed its decline and increased. Mill and social inventories declined for six consecutive weeks, while apparent demand increased for nine consecutive weeks. Specifically, rebar social inventories were 5.791 million tons, down 222,400 tons from the previous week, a decrease of 3.70%; rebar apparent demand was 2.5044 million tons, up 120,600 tons from the previous week, an increase of 5.06%.
3. World Steel Association: In March 2026, global crude steel production was 159.7 million tons, a year-on-year decrease of 4.3%; from January to March 2026, global crude steel production was 459.1 million tons, a year-on-year decrease of 2.3%. China's crude steel production in March decreased by 6.3% to 87 million tons.
4. At a press conference held by the State Council Information Office on the 23rd, Vice Minister of Agriculture and Rural Affairs, Mardan Mugaiti, stated that the number of breeding sows in China has declined for nine consecutive months. In March of this year, the number of newborn piglets decreased year-on-year for the first time in 17 months, indicating a gradual improvement in the supply and demand relationship for live pigs and stabilizing prices.
5. The latest monthly report from the International Grains Council (IGC) shows that global soybean production in 2026/27 is expected to decrease by 1 million tons year-on-year to 441 million tons, trade volume will increase by 1 million tons to 191 million tons, consumption will increase by 2 million tons to 444 million tons, and carryover stocks will decrease by 4 million tons to 75 million tons. 6. USDA: For the week ending April 16, U.S. soybean net export sales for the 2025/2026 marketing year totaled 364,600 tons, compared to 247,900 tons the previous week.
7. According to Longzhong Information, for the week ending April 23, total float glass inventory at sample enterprises nationwide was 76.901 million weight boxes, up 381,000 weight boxes week-on-week, up 0.5%, and up 17.45% year-on-year. The inventory days were 34.9 days, up 0.1 days from the previous period. This week, overall shipments from enterprises in North China improved compared to the previous week. Downstream and midstream customers replenished their stocks based on demand, but the situation varied among enterprises, resulting in inconsistent shipments. Overall, regional inventory decreased slightly week-on-week.
8. The Guangzhou Futures Exchange announced that, effective from the start of trading on April 27, 2026, the transaction fee for platinum futures (PT2606) and palladium futures (PD2606) contracts will be adjusted to 0.01% of the transaction amount, and the intraday closing transaction fee will also be adjusted to 0.01% of the transaction amount.
9. According to SMM research, Indonesia's three major copper smelters (Freeport Manyar - production ramp-up hampered after fire + concentrate shortage, Amman - plant damage and maintenance scheduled for the first half of 2026, PT Smelting - long-term supply agreement with state-owned fertilizer giant Pupuk Indonesia) are operating at low capacity or have long-term agreements, leading to a severe shortage of sulfuric acid, a key chemical raw material, in Indonesia.
10. The CME Group lowered the margin requirements for some silver and gold futures contracts. The adjustment will take effect after the close of trading on Friday local time.
