About Steel: Last week, the domestic spot steel prices mainly decreased. The prices of construction steel decreased by 10-90 yuan/ton; The price of HRC decreased by 10-80 yuan/ton; The prices of CRC were stable in most markets, with the prices in a few markets experiencing increases or decreases by 10-50 yuan/ton; The prices of medium and heavy plate decreased by 10-40 yuan/ton in some markets. In terms of stainless steel, the prices of 304 series stainless steel were mainly stable, while the prices of 201 and 430 series stainless steel declined by 50 yuan/ton in some markets. Last week, temperatures in most parts of China dropped significantly, leading to weakened demand for steel in the market and a decrease in trading volume.

About Raw Materials: Last week, the domestic prices of metallurgical coke in some markets increased by 100-110 yuan/ton, the prices of coking coal increased in some markets, and the prices of PCI were mainly stable.

The prices of imported iron ore fluctuated, with the seaborne price of 61.5% PB fine falling by $0.5 to $135.5 per ton. Steel mills were cautious in purchasing high priced iron ore, mainly based on actual demands. Port iron ore inventories continue to increase. The domestic prices of semis fluctuated with downward trend, with the Ex-work price of billet in Tangshan, Hebei Province decreasing by a total of 80 yuan to 3630 yuan/ton; The domestic scrap prices increased in most markets and declined in a few markets.

About Ferrous Futures: Futures price changes last day: HRC fell by 2.8%, rebar fell by about 3%, stainless steel increased by about 1%, iron ore fell by about 3%, coke fell by about 3.88%, coking coal by 4.17%, silicon-manganese increased by 0.46%, and silicon-manganese fell by about 0.38%,

About Industry: According to statistics from the National Bureau of Statistics of China, China's crude steel, pig iron, and finished steel production in November were 76.1 million tons, 64.84 million tons, and 110.44 million tons, respectively, with a year-on-year increase of 0.4%, a decrease of 4.8%, and a growth of 4.2%; The daily average production was 2.5367 million tons, 2.1613 million tons, and 3.6813 million tons, respectively, a decrease of 0.6%, a decrease of 3.2%, and an increase of 0.4% compared to the previous period.

About Inventory and Transaction: The total inventory of five major types of steel in China last week was 15.3028 million tons, a decrease of 219,00 tons or 0.48% compared to the previous week. Among them, the market inventory decreased by 144,900 tons, and steel mill inventory decreased by 7,4200 tons.

Last week, the daily average trading volume of rebar, plate, and HRC was 64,065 tons, 19,771 tons, and 20,562 tons respectively, a decrease of 9%, 6.5%, and 2.5% compared to the previous week.

About Production: Last week, the operating rate of domestic steel mills' blast furnaces was 89.57%, a decrease of 0.01 percentage points, while the operating rate of electric arc furnaces was 59.35%, a decrease of 0.11 percentage points.