[SMM Survey] Impact of the Meeting Weakens, Iron Ore Concentrates Production Rises Slightly

According to SMM data, the capacity utilisation rate of domestic mines was 56.9% last week, up 2.9 percentage points WoW. The production of iron ore concentrates reached 760,000 mt, up 39,000 mt WoW. Additionally, the inventory of iron ore concentrates decreased by 10,000 mt to 190,000 mt.
Last week, the production of iron ore concentrates showed a slight upward trend. After the conclusion of major meetings, some mines and beneficiation plants that had previously suspended operations resumed normal production, leading to a slight increase in iron ore concentrate production. The production increase was mainly concentrated in Hebei and Liaoning regions. Looking ahead to this week, with the meetings concluded, the overall production pace of mines and beneficiation plants is expected to strengthen. Coupled with the potential resumption of operations at mines and beneficiation plants previously suspended due to iron ore accidents, domestic iron ore concentrate production is likely to grow further in the short term. The production increase is expected to be concentrated in Shandong, Hebei, and Liaoning regions.