1. According to data from the Shanghai Shipping Exchange, as of September 15, 2025, the Shanghai Export Containerized Settlement Freight Index (European routes) was 1440.24 points, down 8.1% from the previous period.
2.
According to the National Bureau of Statistics, China's crude steel output was 77.37 million tons, a year-on-year decrease of 0.7%; pig iron output was 69.79 million tons, a year-on-year increase of 1.0%; and steel output was 122.77 million tons, a year-on-year increase of 9.7%. From January to August, China's crude steel output was 671.81 million tons, a year-on-year decrease of 2.8%.
3.
According to Mysteel, a coal mine in Zhongyang, Lüliang, Shanxi Province, ceased production on September 14, and the resumption date is currently uncertain. The mine has an approved production capacity of 1.2 million tons and primarily produces low-sulfur coking coal grades 10, S0.45, V22, and G91. Its normal daily raw coal output is approximately 3,000 tons. 4.
According to the New Ben Shinkansen, on September 15th, steel mills in the Hebei market lowered their coke purchasing prices by 50/55 yuan/ton. After the adjustment, first-grade wet-quenched coke was quoted at 1,540 yuan/ton; first-grade dry-quenched coke was quoted at 1,900 yuan/ton (top-loaded coke). All prices are ex-factory, including tax, and will be effective from 00:00 on the 15th.
5.
According to the National Grain and Oil Information Center, as of the week of September 12th, soybean crushing volume at major domestic oil mills reached 2.36 million tons, up 60,000 tons week-on-week, 20,000 tons month-on-month, and 120,000 tons year-on-year, and up 380,000 tons compared to the three-year average for the same period. Oil mill operating rates are expected to rebound slightly this week, with crushing volume around 2.4 million tons. 6.
The U.S. Department of Agriculture (USDA) released its weekly crop progress report early Tuesday morning, showing that as of the week ending September 14, the quality-to-excellence rate for U.S. soybeans was 63%, in line with market expectations of 63%, compared to 64% the previous week and 64% the same week last year. The harvest rate was 5%, in line with market expectations of 5%, compared to 6% the same week last year and a five-year average of 3%. The leaf drop rate was 41%, compared to 21% the previous week, 41% the same week last year, and a five-year average of 40%.
7. According to SMM, regarding domestic lead ore market prices, lead smelters in northern China have indicated that winter storage plans may be implemented early. 8.
National Oilseed Processors Association (NOPA): U.S. soybean oil stocks are projected at 1.245 billion pounds in August 2025, compared with market expectations of 1.298 billion pounds, 1.380 billion pounds in July 2025, and 1.138 billion pounds in August of last year. U.S. soybean crush is projected at 189.81 million bushels in August 2025, compared with market expectations of 182.857 million bushels, 195.699 million bushels in July 2025, and 158.008 million bushels in August of last year.
