MMi Daily Iron Ore Report (February 23)

During the last working week before the Chinese New Year, the EMM market saw a significant narrowing of its decline after a cumulative drop of 600 yuan/mt the previous week, gradually entering a state of weak stabilization. The mainstream tax-inclusive ex-factory prices in the Manganese Triangle Region (Chongqing Xiushan, Hunan Huayuan, Guizhou Songtao) and Guangxi were quoted at 17,200-17,400 yuan/mt, while distributor prices at Tianjin Port and Huangpu Port ranged from 17,400-17,600 yuan/mt, with the lower end of the price range approaching the key threshold of 17,000 yuan/mt...

[Silicon Metal and Downstream Sectors See Widespread Production Cuts in February; Post-Chinese New Year Recovery Under Scrutiny] Supply and demand both contracted in February, with the balance expected to be tight or show slight destocking. The Chinese New Year holiday is about to end, and post-holiday market activity is primarily characterized by tentative inquiries. Attention is focused on the pace of production resumption at major plants after the holiday, as well as changes in capital sentiment.