MMi Daily Iron Ore Report (May 31)

The No.2 hot-dip galvanizing line of Tangshan Ganglu Cold Rolling Co., Ltd., supplied by MCC Jingcheng Engineering Technology Co., Ltd. (hereinafter referred to as "MCC Jingcheng"), successfully passed hot commissioning on its first attempt. The No.2 hot-dip galvanizing line commissioned this time has a designed annual capacity of 350,000 mt, adopts the U.S. Steel galvanizing process, and produces products with a thickness range of 0.3–2.5 mm and a width range of 700–1,250 mm. The galvanized sheets produced by the line can be widely used in home appliances, construction, and other fields, effectively filling the local gap in galvanized sheet production in Zunhua and further improving the steel deep-processing industry cluster in the northern part of Tangshan.

According to SMM statistics, both mill stocks and social stocks of construction steel destocked to varying degrees this period. Total construction steel inventory came in at 7.6467 million tons, down 0.2259 million tons period-on-period, or -2.87% period-on-period, with the destocking pace accelerating.