MMi Daily Iron Ore Report (September 23)

The PBOC issued a tender announcement for the September medium-term lending facility (MLF), stating that on September 24, the People's Bank of China will conduct an 800 billion yuan MLF operation with a 1-year term, using a fixed quantity, interest rate tender, and multiple price winning method.

The domestic ore market in eastern Liaoning remained broadly stable today. Most traders had no contract orders, and inquiries for cargoes were scarce, with only a few making small purchases under long-term agreements based on their own needs. Overall transactions were sluggish. Ore beneficiation plants mostly maintained intermittent production due to tight ROM supply.

From September 20 to 21, Wang Hongzhi, Party Leadership Group Secretary and head of the National Energy Administration, led a team to Jilin to survey energy investment, winter peak energy and power supply, new-type power grid construction, and new fuel development. Wang Hongzhi stressed the need to expand the scale of energy investment and accelerate the construction of major energy projects. Fully advance new-type power grid construction and appropriately push forward the implementation of new-type power grid project tasks ahead of schedule. Leverage Jilin's resource advantages and actively and orderly promote the high-quality development of industries such as new energy, hydrogen energy, and green fuels. Broaden investment channels, improve service levels, and actively attract various enterprises, especially private enterprises, to participate in energy project construction. Solidly carry out all work related to winter peak energy and power supply to ensure the people stay warm through the winter. Attach great importance to workplace safety and safeguard high-quality energy development with high-level safety.