1. Malaysian palm oil production for 2026/27 is projected at 18.9 million tons, a 2.6% downward revision from the previous estimate. 2. Negotiations between striking unions at Antofagasta Minerals and the Centinela copper mine in Chile remained stal

2026-10-16

1. Malaysian palm oil production for 2026/27 is projected at 18.9 million tons, a 2.6% downward revision from the previous estimate. 2. Negotiations between striking unions at Antofagasta Minerals and the Centinela copper mine in Chile remained stalled on Thursday. 3. The drought rate in US soybean-growing regions is 26%, up 1 percentage point from 25% last week. 4. Data released by the US Department of Agriculture (USDA) shows that private exporters reported sales of 330,000 tons of soybeans to China. 5. For the week ending October 15, rebar apparent demand reversed from a decline to an increase, production reversed from a decline to an increase, mill inventories reversed from an increase to a decrease, and social inventories reversed from an increase to a decrease. Rebar production reached 1.7389 million tons, an increase of 36,200 tons from the previous week. 6. This week, Mysteel's Coal and Coke Division surveyed the profitability of independent coking plants nationwide. The national average profit per ton of coke was -52 yuan/ton. 7. Mysteel statistics show that the average daily output of raw coal from 523 coking coal mines was 1.608 million tons, an increase of 116,000 tons month-on-month, while raw coal inventory was 4.187 million tons, a decrease of 26,000 tons month-on-month. 8. CONAB's October forecast data shows that Brazil's soybean production in 2026/27 is expected to reach 181.6166 million tons, an increase of 1.21 million tons, or 0.7%, year-on-year. 9. The National Oilseed Processors Association (NOPA) reports that US soybean oil inventories in September were 1.053 billion pounds, compared to market expectations of 1.116 billion pounds and 1.201 billion pounds in August. 10. As of October 15, 2026, the total inventory of float glass sample enterprises nationwide was 71.793 million weight boxes, a decrease of 1.393 million weight boxes month-on-month, a decrease of 1.9%, and an increase of 11.7% year-on-year. The inventory days were 33 days, a decrease of 0.7 days from the previous period. 11. According to Antaike, although the production capacity of copper mines such as Grasberg and Kamoa is gradually recovering, coupled with the commissioning of new production capacity in China and other countries, the growth rate of global copper concentrate production is expected to improve in 2027, but it will still be far from enough to meet the demand of existing copper smelting capacity.