MMi Daily Iron Ore Report (March 10)

[CAAM: Vehicle Industry Production and Sales in February 2026] According to analysis by the China Association of Automobile Manufacturers, this year’s Chinese New Year fell in mid-to-late February, and the holiday was extended. As a result, there were only 16 effective working days in February, which somewhat affected enterprises’ production and operations, while overall market activity declined. Judging from industry performance in January and February, vehicle production and sales declined YoY under the combined impact of multiple factors, including policy transition adjustments, the release of front-loaded demand, the shifting timing of the Chinese New Year holiday, insufficient willingness to consume, and a high base in the same period last year.

[CAAM: China’s February Auto Sales Fell 15.2% YoY] CAAM data showed that in February, auto production and sales reached 1.672 million units and 1.805 million units, down 31.7% and 23.1% MoM, and down 20.5% and 15.2% YoY, respectively. Auto exports totaled 672,000 units in February, down 1.4% MoM and up 52.4% YoY.