1. In mid-May 2026, the steel inventory of key steel enterprises was 18.77 million tons, an increase of 1.89 million tons, or 11.2%, compared to the previous ten days. These key steel enterprises produced a total of 20.96 million tons of crude steel, with an average daily output of 2.096 million tons, a decrease of 0.7% compared to the previous period; 18.79 million tons of pig iron, with an average daily output of 1.879 million tons, a decrease of 0.9% compared to the previous period; and 20.07 million tons of steel products, with an average daily output of 2.007 million tons, an increase of 3.3% compared to the previous period.
2. According to Mysteel, on May 26th, major steel mills in Shandong raised their coke purchase prices by 50 yuan/ton for wet-quenched coke and 55 yuan/ton for dry-quenched coke; steel mills in Hebei also raised their coke purchase prices by 50/55 yuan/ton, effective from 00:00 on the 26th.
3. According to data monitored by the Grain and Oil Business Network, as of the end of the 21st week of 2026, China's total imported soybean inventory was 6.6705 million tons, an increase of 100,000 tons from the previous week, slightly higher than the 6.4116 million tons in the same period last year. Of this, coastal inventory was 5.8854 million tons, an increase of 59,600 tons from the previous week.
4. According to the European Commission, as of May 24, the EU's 2025/26 soybean imports totaled 11.95 million tons, compared to 12.97 million tons last year. Palm oil imports were 2.57 million tons, compared to 2.66 million tons in the same period last year. Corn imports were 16.32 million tons, compared to 18.14 million tons last year. Soybean meal imports were 16.29 million tons, compared to 17.48 million tons in the same period last year.
5. The USDA's weekly crop progress report shows that as of the week ending May 24, 2026,
US soybean planting was 79%, compared to market expectations of 82%, 67% the previous week, 75% at the same time last year, and a five-year average of 68%. Soybean emergence was 49%, compared to 32% the previous week, 48% at the same time last year, and a five-year average of 40%.
6. According to SMM, domestic photovoltaic glass production capacity has been declining recently, and leading glass companies are expected to negotiate further capacity reductions next week. Currently, domestic photovoltaic glass production capacity has fallen below 80,000 tons/day, equivalent to a monthly module demand of approximately 44GW.
7. The International Aluminium Institute (IAI) reports that global alumina production in April 2026 was 11.921 million tons, compared to 12.238 million tons in the same period last year, and a revised figure of 12.647 million tons for the previous month. China's alumina production in April is projected to be 7.37 million tons, compared to a revised figure of 7.53 million tons for the previous month.
8. According to foreign media reports, data released by the Central Bank of Peru shows that Peru exported 249,300 tons of copper, 1,400 tons of tin, 547,100 ounces of gold, 400,000 ounces of refined silver, 158,500 tons of lead, and 110,000 tons of zinc in March 2026.
9. According to SMM, a zinc smelter in Southwest China, originally scheduled to resume operations in early June, has postponed its resumption of production to mid-to-late June due to equipment and materials not yet arriving at the plant. Currently, its output has been reduced to about one-third. A zinc smelter in South China recently ignited and commissioned its second phase of 50,000 tons of new capacity; if commissioning proceeds smoothly, production is expected to gradually increase starting in July.
