MMi Daily Iron Ore Report (March 17)

Since March this year, Shenzhen's real estate market has seen a new wave of momentum, with trading volume for both new homes and existing homes continuing to rise MoM, and the market recovering notably, as the "Spring Mini-Boom" emerged. Recently, as a new batch of high-quality residential projects has been launched one after another, housing demand is expected to be further released. According to the Municipal Housing and Construction Bureau, in the first two weeks of March, the number of online signed transactions for second-hand residential properties in Shenzhen rose 23.8% and 24.5% WoW, respectively.

In February 2026, sales of various excavators totaled 17,226 units, down 10.6% YoY; of which domestic sales were 6,755 units (including 19 electric excavators), down 42% YoY. In February 2026, sales of various loaders totaled 9,540 units, up 9.28% YoY; of which domestic sales were 3,863 units (including 2,016 electric loaders), down 14.3% YoY. According to statistics from the China Construction Machinery Association on major grader manufacturers, sales of various graders in February 2026 reached 679 units, up 6.93% YoY.

This year marks the opening year of the 15th Five-Year Plan period, and China will continue implementing a more proactive fiscal policy. Priority will be given to supporting the building of a strong Chinese market; supporting efforts to accelerate the fostering and strengthening of new momentum, rolling out initiatives for the high-quality development of key manufacturing industry chains, organizing the implementation of the third batch of pilot cities for new-type technological transformation in manufacturing, and continuing the fiscal award and subsidy policy for specialized, refined, distinctive, and innovative small and medium-sized enterprises.