[Brief Commentary on Domestic Iron Ore Market: Iron Ore Concentrates Prices in Tangshan Region May Rise Slightly] At the beginning of the week, the iron ore concentrates market in Tangshan was relatively stable, with delivery-to-factory prices for 66% grade dry-basis iron ore concentrates (tax included) at 940-945 yuan/mt. Influenced by the optimistic outcome of the Sino-US tariff negotiations, market sentiment was relatively optimistic in the short term. Mines and beneficiation plants had a strong wait-and-see sentiment and a strong sentiment to stand firm on quotes. Steel mills' current inventory levels were relatively low, mostly sufficient for 5-7 days of production, and there was an expectation of restocking.

[SMM Weekly Maintenance Statistics] According to SMM statistics, for the week (May 10 to May 16), the impact of blast furnace maintenance on pig iron production was...

[Brief Review of Domestic Iron Ore Market: Iron Ore Concentrates Prices in Shandong May Rise Slightly] This week, the price of 64-grade alkaline iron ore concentrates (dry basis, pre-tax) from Shandong miners increased by 3 yuan, with the current quoted price at 844 yuan. Most miners are operating normally, but many report poor sales. Some miners have accumulated inventories of 10,000-20,000 mt, facing certain sales pressure. Steel mills are operating with low inventory levels, maintaining inventories for 3-5 days. Due to the relatively high cost-effectiveness of imported ore, their willingness to purchase domestic concentrates is generally low.

According to the latest data from SMM, the capacity utilisation rate of domestic mines reached 59% last week, up 2.4 percentage points from the previous week. The production of iron ore concentrates rose to 787,000 mt, up 32,000 mt WoW. Sales reached 817,000 mt, up 72,000 mt WoW. Meanwhile, the inventory of mine concentrates decreased by 30,000 mt, with the total inventory currently at 245,000 mt.

【Brief Review of Domestic Iron Ore Market: Iron Ore Concentrates Prices in West Liaoning May Remain in the Doldrums】Iron ore concentrates prices in west Liaoning are relatively stable, with the ex-factory price (66% grade, wet basis, tax excluded) at 700-710 yuan/mt. Currently, the production level of mines and beneficiation plants remains low, leading to a tight supply of iron ore concentrates and providing some support for local ore prices. Steel mills are mainly purchasing as needed, and their overall desire to bargain down prices remains strong.

As of May 9, SMM data showed that the total inventory at 35 ports was 139.66 million mt, a decrease of 280,000 mt from before the holiday and a decrease of 350,000 mt WoW. The daily average port pick-up volume of imported ore was 3.019 million mt, a decrease of 129,000 mt from before the holiday. Recently, global shipments have been at a relatively low level, with a slight overall decline in port arrivals. In terms of port cargo pick-up, steel mills intensified their restocking efforts before the holiday, but the pace of procurement slowed down after the holiday, leading to a downward trend in port pick-up volume. As a result, the overall port inventory showed a slight decline.