MMi Daily Iron Ore Report (August 5)

[SMM Hot-Rolled Coil Daily Transaction] On August 5, the combined daily trading volume of hot-rolled coil from sample enterprises in SMM’s four cities (Shanghai, Lecong, Tianjin, Ningbo) stood at 11,210 mt, up 990 mt day-on-day (+10.0%), down 13.97% YoY (solar calendar) and down 2.86% YoY (lunar calendar).

Thai Nguyen authorities have called on businesses and investors to prioritize domestically produced steel when products meet requirements on quality, delivery time and cost. On July 31, Thai Nguyen Iron and Steel Joint Stock Company signed cooperation agreements with 14 businesses and investors, covering an expected 168,000 mt of steel consumption for projects and construction works in the province. The company committed to competitive pricing, flexible cooperation and enhanced technical and after-sales support. The move is expected to expand market demand for domestic steel, strengthen links between steelmakers and construction companies, and support production growth and the local economy.