November 2025
Iron Ore & Steel
China-built iron ore mine project goes into operation in West Africa
Source: China Daily
Production at the Simandou iron ore mine project, which is one of the world’s largest and highest-grade deposits, was officially launched in Guinea, West Africa, on Tuesday. FULL STORY
China expands BHP iron ore ban to new product as talks drag
Source: Mining
China’s state-owned iron ore buyer has ordered steel mills and traders to stop purchasing a certain type of BHP iron ore, sources said, adding to a separate ban already in place and escalating a dispute over a new contract. FULL STORY
Column: China steel output slumps as iron ore imports head for record
Source: Mining
China’s steel production this year will drop below 1 billion metric tons for the first time since 2019, but iron ore imports may rise to a record high. FULL STORY
China’s demand for iron ore is not changing much as supply increases
Source: Energy News
The prices of iron ore futures were not much changed on Wednesday. A modest increase in China demand was offset by a decline in steel production and a rise in global supply. FULL STORY
Iron ore gains for the third week in a row on Infrastructure Demand
Source: Energy News
The iron ore futures price was little changed on the Friday but is headed to a third weekly gain in a row on recent infrastructure demand. FULL STORY
WEEKLY: China’s iron ore port stocks near 9-mth high
Source: Mysteel
Total iron ore stockpiles across China’s major 45 ports under Mysteel’s regular tracking climbed by 1.6 million tonnes or 1% on week during November 21-27 to reach 152.1 million tonnes, nearing the highest level over the past nine months, according to the latest survey results. Significantly, the current inventories were 1% higher than the year-ago level, representing the first on-year rise since mid-April. FULL STORY
WEEKLY: Chinese mines’ iron ore output, stocks both retreat
Source: Mysteel
After nudging higher in the previous two consecutive weeks, production of iron ore concentrates among Chinese mining companies retreated during November 21-27 due to increased maintenance stoppages at mines, Mysteel’s latest survey results showed. FULL STORY
MYSTEEL: Global iron ore 2026 output to hit record high, Africa the new focus
Source: Mysteel
Inventories of imported iron ore sintering fines held by Chinese blast-furnace (BF) steelmakers declined further in the past week along with their increased consumption of the feed material, though the pace of drop in inventories slowed markedly, Mysteel’s latest survey showed. FULL STORY
Iron ore shipments to China via Port Hedland rise in October
Source: Mysteel
The volume of iron ore shipped to China from Port Hedland, the top iron ore dispatch terminal in Western Australia, rose by a small 0.6% on month to 42.2 million tonnes in October, according to the latest data released by the Pilbara Ports Authority (PPA). Last month’s total was higher by a notable 7.3% on year, however. FULL STORY
CONF: Decarbonization to drive structural shifts in global iron ore supply
Source: Mysteel
The global iron ore supply chain is set for structural changes over the next 25 years, as countries around the world step up efforts to decarbonize the steel industry — a major emitter — aiming for near-zero emissions by 2050, according to Dr. Liu Yinghao, technical director at the Low Carbon Metallurgy Innovation Center of China Baowu Steel Group Corp. FULL STORY
NBS: China’s Jan-Oct ROM iron ore output down 3% YoY
Source: Mysteel
China’s run-of-mine (ROM) iron ore production during January-October totalled 851.7 million tonnes, falling by 3.2% from the same period last year, according to the latest data from the National Bureau of Statistics (NBS). Nonetheless, the decline has narrowed slightly from the 3.8% on-year drop recorded during the first nine months of this year, the numbers show. FULL STORY
Iron, steel sector profits rise in Jan-Sept
Source: China Daily
The iron and steel industry’s profits increased by 1.9 times in the first three quarters, an improvement from the same period of 2024, said Jiang Wei, vice-chairman and secretary-general of the China Iron and Steel Association. FULL STORY
Coal
Column: China burns more coal even as output slips, driving prices up
Source: Mining
China’s electricity generation from thermal fuels such as coal jumped in October while coal output declined, leading to higher prices for both domestic fuel supplies and imports. FULL STORY
China’s coal miners hope spot price rally lifts annual contracts
Source: Mining
Chinese miners are hoping a recent rally in spot prices for thermal coal will translate into a boost for their annual contracts with power plants next year. FULL STORY
WEEKLY: China’s thermal coal market softens on bloated inventories
Source: Mysteel
China’s spot thermal coal market began softening over the past week (November 24-28), against previous expectations for a rebound after being steady for a week, as rising inventories at utilities and ports weighed on buying interest. FULL STORY
Shaanxi to ‘restructure’ coal mines under 600,000 t/y
Source: Mysteel
Northwest China’s Shaanxi province, a major coal producing region, will accelerate the process of eliminating local coal mines whose annual capacity is under 600,000 tonnes/year, either through phasing them out, upgrading their operations and consolidating them, depending on the mines’ conditions. The project is expected to be completed before the end of 2028, according to a document issued on November 21 by the Shaanxi Provincial Development and Reform Commission, the province’s top economic planner. FULL STORY
WEEKLY: Coking coal stocks build higher at Chinese mines
Source: Mysteel
Coking coal stockpiles at Chinese mines showed further signs of building up during the past week, mainly due to recovering mining activity as well as lulled transactions amid softened market sentiment, according to market sources. FULL STORY
GACC: China’s thermal coal imports retreat in Oct
Source: Mysteel
China imported 30.15 million tonnes of thermal coal in October, retreating by 11.5% from September, and the on-year decline widened to 14.5%, according to new data released by the General Administration of Customs of China (GACC). FULL STORY
DAILY: Traders’ shipments push thermal coal stocks higher at N China ports
Source: Mysteel
Thermal coal traders at China’s northern transfer ports have continued stable buying from producing hubs, contributing to a persistent inventory buildup at these ports and sparking concerns over downward risks in the spot market, sources noted. FULL STORY
Production of China’s top 10 coal miners stable MoM in October
Source: Mysteel
The combined raw coal production of China’s ten largest mining companies stayed basically flat from the previous month at around 197 million tonnes in October, Mysteel Global calculated based on the latest cumulative data from the China National Coal Association (CNCA). FULL STORY
China’s key coal railway Tangbao to boost capacity by 7.5 mln t/y
Source: Mysteel
The transport capacity of the Tangbao railway — China’s third-largest coal transport route after the Daqin and Shuohuang lines — is set to increase by 7.5 million tonnes/year following the completion of a series of facility upgrades in mid-November, according to China Railway Hohhot Group, which oversees rail operations in North China’s Inner Mongolia, one of the country’s key coal regions. FULL STORY
Analysis finds that China’s coal plant permits will be at a four-year low by 2025
Source: World Energy News
A new Greenpeace report showed that China’s coal plant permits will fall to their lowest level in four years. This is due to the growing demand for renewable energy sources. FULL STORY
Soybean
Global soybean market reshaped by trade tensions
Source: China Daily
As one of the most cultivated crops on earth, the majority of the soft, protein-packed little soybeans that are grown in countries worldwide are not for human consumption but are used to feed livestock such as hogs, cattle and chickens. FULL STORY
China ups US soybean purchases to 1 million tonnes
Source: World Grain
BEIJING, CHINA — China has purchased nearly 1 million tonnes of US soybeans, according to media reports, the first since a meeting between President Donald Trump and President Xi Jinping in October. FULL STORY
China buys US wheat, sorghum
Source: World Grain
WASHINGTON, DC, US — After announcing plans to import 12 million tonnes of US soybeans over the final two months of 2025, China also has signed agreements to purchase wheat and sorghum from the United States, sources told Reuters. FULL STORY
Malaysia works to regain palm oil market share in China
Source: Ukr Agro Consult
Malaysia’s palm oil exports to China declined nearly 39% in the first 10 months of the year due to logistics challenges and pricing pressures, said Malaysian Plantation and Commodities Minister Datuk Seri Johari Abdul Ghani. FULL STORY
China bans five Brazilian soy exporters after cargo issue
Source: Tridge
The Brazilian agriculture ministry has been notified by Chinese authorities that five Brazilian soy exporters have been banned from shipping the grain to the Asian country. On Wednesday, Brazilian newspaper Folha de Sao Paulo reported that China had stopped 69,000 metric tons of Brazilian soybeans from entering its territory after finding wheat treated with pesticides FULL STORY
China’s soybean oil exports have more than tripled
Source: Tridge
In October-December 2025, China contracted to export up to 200,000 tons of soybean oil, compared to only 61,000 tons in the same period last year, according to analysts from Oil World (Germany). In October, the country exported 71,000 tons of the product, more than half of which—46,000 tons—went to India. Shipments to India are planned. FULL STORY
Soybean demand may fall due to the crisis in Chinese pig farming
Source: Ukr Agro Consult
Grain producers and exporters are closely monitoring the problems in China’s hog farming industry. Pig farmers in China are suffering significant losses, which bodes ill for global demand. The crisis has already impacted various estimates of the country’s need for supplies from abroad. The Chinese government forecasts soybean imports of 95.8 million tons, while the US Department of Agriculture estimates 112 million tons. FULL STORY
China’s Slow Soybean Purchases Pressure Corn Markets
Source: Ukr Agro Consult
Corn fell again last week while wheat traded sideways. China continued buying US wheat and soybeans, while Russian wheat production was revised higher. The outlook remains more bearish than bullish due to abundant global supplies, with limited support from the slow Ukrainian corn harvest and China’s uncertain soybean purchases, which may not meet the 12 million tonne target by year-end. FULL STORY
China Receives First Shipment of Argentine Soybean Meal Since 2019 Import Approval
Source: Agriculture
A cargo of Argentine soybean meal has cleared Chinese customs, two China-based traders said, marking the first such shipment since Beijing approved such imports in 2019 and signaling a new trade channel with the world’s top soymeal exporter. FULL STORY
China’s soybean stockpiles are piling up, threatening US export plans
Source: Ukr Agro Consult
China is facing a glut of soybean inventories after months of record imports, limiting prospects for purchases from the United States despite trade easing, Reuters reported. FULL STORY
Energy
Saudi Arabia, China nurturing multi-faceted cooperation amid mutual trust and shared interests
Source: China Daily
The relationship between Saudi Arabia and China represents a remarkable case in international ties, notable for both its relatively short history and the depth of its current partnership. FULL STORY
Russell: China’s LNG crown is at risk due to high prices that limit demand
Source: World Energy News
Asia’s imports liquefied gas remained flat in November. The region that is the largest buyer of this super-chilled fuel will likely record its first decline annually in three years. FULL STORY
China is preparing for a record-breaking winter in terms of power and gas consumption
Source: World Energy News
An official of the National Development and Reform Commission said that the peak demand for electricity in China and the peak gas consumption will both be at their highest levels ever recorded this winter. FULL STORY
CNOOC Ships First Golden Arrowhead Crude from Guyana To China
Source: World Energy News
According to shipping and trade data, China, the world’s largest oil importer will receive its first Golden Arrowhead Crude cargo from Guyana by December. Producer CNOOC Ltd is looking to expand markets for this new grade. FULL STORY
China releases first batch of crude oil import quotas 2026 for independent refiners
Source: Energy News
Multiple trade sources reported on Thursday that independent refiners have received the first batch of crude import quotas from China for 2026. These quotas can be used to purchase cargoes due to arrive by the end the year. FULL STORY
Trade sources claim that Yanchang, a Chinese refiner, buys crude oil from the UAE and Kazakhstan instead of Russia
Source: World Energy News
Several sources confirmed that Yanchang Petroleum, a Chinese refiner, has purchased 3 million barrels from the United Arab Emirates (UAE) and Kazakhstan, for arrival in January, after having suspended its Russian oil purchases due to concerns over Western sanctions. FULL STORY
China’s crude oil throughput in October rises by 6.4% on an annual basis
Source: Market Screener
China’s crude throughput increased 6.4% on an annual basis in October as refiners increased throughput to improve margins. FULL STORY
PetroChina will phase out 19 old chemical and refining units to reduce sector glut
Source: World Energy News
Analysts say that PetroChina, a state-owned company, plans to permanently close 19 aging refining and chemicals units in order to reduce overcapacity. This is part of Beijing’s campaign to boost profitability and curb the country’s overcapacity. FULL STORY
China’s marine economy reports 5.6% growth in first 9 months of 2025
Source: China Daily
China’s gross ocean product totaled 7.9 trillion yuan ($1.11 trillion) in the first three quarters of 2025, which was a year-on-year increase of 5.6 percent, demonstrating the marine economy’s steady development momentum. FULL STORY