July 28 Pig Iron Market Trend

Today, the domestic pig iron market operates steadily with a slight upward bias. The price of pig iron in some regions has increased by 20 - 40 yuan/ton.

Macroeconomic aspects: On July 27, data released by the National Bureau of Statistics showed that in June, the profits of industrial enterprises above the designated size decreased by 4.3% year - on - year, which narrowed significantly compared with May. From January to June, the total profits of industrial enterprises above the designated size nationwide reached 3,436.5 billion yuan, a year - on - year decrease of 1.8%. Among them, the profits of the ferrous metal smelting and rolling processing industry increased by 13.7 times year - on - year.

Futures aspects: The Dalian Commodity Exchange announced that starting from the trading on July 29, the single - day position opening volume of non - futures company members or clients in the coking coal futures JM2509 contract shall not exceed 500 lots, and the single - day position opening volume in other coking coal futures contracts shall not exceed 2,000 lots. On the evening of July 25, affected by this news, most of the domestic futures night trading closed lower, with coking coal and coke falling by more than 7%; on the afternoon of July 28, the main contracts of coking coal and coke hit the limit down. By the close, the main varieties of the ferrous metals sector all declined. Iron ore fell by 14, closing at 786; coke fell by 139.5, closing at 1,608.5; coking coal fell by 136, closing at 1,100.5; rebar fell by 68, closing at 3,248; hot - rolled coil fell by 80, closing at 3,397.

Cost aspects: The price of coke is temporarily stable, and part of the fourth round of price increase of coke has been implemented: on July 28, some steel plants in Xingtai, Tianjin, Shijiazhuang, and Tangshan regions increased the price of wet quenched coke by 50 yuan/ton and dry quenched coke by 55 yuan/ton, to be implemented at 0:00 on July 29, 2025; iron ore fluctuates at a high level, and the cost - side support for pig iron is relatively strong.

Supply and demand aspects: The weak oscillation of the futures market suppresses market sentiment, but supported by the low inventory of production enterprises, some iron plants still increase prices slightly; on the demand side, due to the downstream foundry enterprises entering the inventory digestion cycle, the transaction of new orders in the market slows down. Overall, it presents a tight balance pattern of "low supply - weak demand". The trading atmosphere is relatively light, but the price has obvious bottom support.

Comprehensively, it is expected that the pig iron market will operate steadily with a slight upward bias tomorrow.