Core Viewpoint - The domestic futures market for light chemical products experienced mixed performance, with fiberboard futures showing a slight upward trend, closing at 1262.00 yuan/ton, up 0.40% [1] Group 1: Steel Production and Inventory - In late September 2025, key steel enterprises produced 18.89 million tons of crude steel, with an average daily output of 1.889 million tons, reflecting a month-on-month decrease of 8.9% [1] - The production of pig iron reached 18.17 million tons, with an average daily output of 1.817 million tons, showing a month-on-month decline of 4.9% [1] - Steel output totaled 21.42 million tons, with an average daily output of 2.142 million tons, indicating a month-on-month increase of 4.0% [1] - The steel inventory among key steel enterprises was recorded at 14.67 million tons, a decrease of 620,000 tons or 4.1% from the previous period, but an increase of 2.7% compared to the same period last year [1] Group 2: Steel Exports - In September, the total steel export volume from 32 domestic ports reached 12.3042 million tons, representing a month-on-month increase of 2.17% [1] - Tianjin New Port exported 3.7404 million tons of steel in September, up 28.26% month-on-month [1] - The export volume from Jingtang Port was 1.2425 million tons, reflecting a month-on-month increase of 38.13% [1] - Luojing Port's steel export volume was 1.0987 million tons, marking a month-on-month increase of 19.98% [1]

Group 1 - The domestic futures market for light chemical sector showed mixed results, with fiber board futures experiencing high volatility, closing at 1276.50 yuan/ton, a slight increase of 0.12% [1] Group 2 - In Tangshan, steel mills are implementing production restrictions, resulting in low operating rates and capacity utilization, alongside transportation controls for National VI standard and new energy vehicles [2] - The mainstream prices for Tangshan section steel remained stable, with I-beam at 3390 yuan/ton, angle steel at 3400 yuan/ton, and channel steel between 3350-3400 yuan/ton, with weak transaction volumes [2] - As of mid-August 2025, the inventory of key steel enterprises was reported at 15.67 million tons, an increase of 600,000 tons or 4.0% from the previous period [2] - The total urban inventory for the week was 8.54 million tons, up by 340,100 tons (+4.15%) from the previous week, while the total inventory of construction steel was 4.64 million tons, increasing by 216,000 tons (+4.88%) [2] - The vice president of the China Iron and Steel Association, Xia Nong, indicated that the steel industry is expected to maintain a stable and positive trend due to continued national support for production regulation and the gradual implementation of comprehensive rectification policies [2]