China PPI for June -5.4% y/y (expected -5.0%)

Ukraine-focused miner Ferrexpo posted an 18% jump in second-quarter production from the previous quarter, buoyed by stable production from first pelletiser line and initial contribution from second line after resumption in February.

Steelmaker Ternium said on Wednesday it had resumed operations at an iron-ore mine in Mexico after a more than five-month hiatus sparked by clashes between the firm and local community over the disappearance of two environmental activists.

Steel prices are expected to rise again soon.

Broken down by districts, here’s production for the week ending July 1, 2023 in thousands of net tons: North East: 137; Great Lakes: 563; Midwest: 215; Southern: 758 and Western: 67 for a total of 1740.

North American steel scrap prices could face their third consecutive month of decline across all grades in July as traditional summer production slowdowns hinder demand.

With the rapid development of ferro-alloys futures trading, Chinese steelmakers are increasingly using the newly-introduced futures-spot basis pricing pattern to hedge risk, according to Hao Zhu.

China’s ferro-silicon market has displayed weak momentum since the beginning of 2023, with decreasing supplies and demand between January and May 2023.