1.
As of the week ending October 23rd, rebar production reversed its decline and turned positive. Factory and social inventories declined for two consecutive weeks, while apparent demand increased for two consecutive weeks. Rebar production reached 2.0707 million tons, an increase of 59,100 tons, or 2.94%, from the previous week; apparent demand for rebar reached 2.2601 million tons, an increase of 62,600 tons, or 2.85%, from the previous week.
2.
Data from the China Iron and Steel Association (CISA) showed that in mid-October, social inventories of five major steel varieties in 21 cities reached 9.36 million tons, a decrease of 100,000 tons, or 1.1%, from the previous week, with slight inventory fluctuations. This represents an increase of 2.77 million tons, or 42.0%, from the beginning of the year, and an increase of 2.05 million tons, or 28.0%, from the same period last year.
3.
According to the World Steel Association, global crude steel production is expected to fall by 1.6% year-on-year to 141.8 million tons in September 2025. China's steel production reached 73.49 million tons, a year-on-year decrease of 4.6%. India's steel production reached 13.56 million tons, a year-on-year increase of 13.2%. U.S. steel production reached 6.87 million tons, a year-on-year increase of 6.7%.
4. Citi analyst Gan Huan
Wen noted in a report that Indonesia's planned implementation of the mandatory B50 biodiesel blending policy in 2026 is likely to be postponed to 2027 due to funding constraints and an unfavorable palm oil-diesel price differential.
5.
The International Grains Council (IGC)'s latest monthly report projects global soybean production in 2025/26 to decrease by 1 million tons year-on-year to 428 million tons, with trade increasing by 2 million tons to 187 million tons and consumption decreasing by 1 million tons to 430 million tons. Carryover stocks are projected to decrease by 4 million tons to 79 million tons.
6.
According to Longzhong Information, domestic soda ash production this week was 740,600 tons, an increase of 1,000 tons from the previous month. Light soda ash production was 330,600 tons, a month-on-month increase of 5,700 tons. Heavy soda ash production was 409,900 tons, a month-on-month decrease of 5,600 tons. Domestic soda ash manufacturers' total inventory stood at 1.7021 million tons, down 8,600 tons, or 0.50%, from Monday.
7. Data from Enterprise Singapore (ESG) showed that Singapore's fuel oil inventories fell by 2.036 million barrels to a four-week low of 23.027 million barrels in the week ending October 22.
8. Chilean copper mining company Antofagasta said its copper production in the third quarter of 2025 was 161,800 tons, a 1% increase from the previous quarter. Gold production in the third quarter was 53,900 ounces, a 12% increase from the previous quarter. Copper production for the current fiscal year is expected to be at the lower end of its guidance range.
9. Data released by the International Lead and Zinc Study Group (ILZSG) showed that the global zinc market surplus widened to 47,900 tons in August 2025, compared to 38,700 tons in July.
