[SMM Survey] Robust Demand for Domestic Iron Ore Concentrates, Production Rises Slightly

According to SMM data, the capacity utilisation rate of domestic mines last week was 59.6%, up 2.7 percentage points WoW. Iron ore concentrates production was 795,000 mt, up 35,000 mt WoW. Additionally, the inventory of iron ore concentrates remained stable at 190,000 mt WoW. Iron ore concentrates production continued to show a slight upward trend; currently, overall iron ore concentrates resources in China are tight, with some regions experiencing undersupply; in particular, the production enthusiasm of mines in Hebei is relatively high, and the production and sales of iron ore concentrates have risen slightly; looking ahead to next week, with warmer temperatures, there is a possibility of resumption of work and production at mines and beneficiation plants in some parts of north-west China, and it is expected that iron ore concentrates production may continue to rise.