MMi Daily Iron Ore Report (May 9)

In August 2026, total electricity consumption exceeded 1 trillion kWh again, reaching 1,033.2 billion kWh, up 1.7% YoY. The electricity load hit a record high of 1.56 billion kW, 49.69 million kW higher than the previous year's peak load, with 7 days exceeding the previous year's peak load. By sector, primary industry electricity consumption was 16.9 billion kWh, up 2.7% YoY. Secondary industry electricity consumption was 612.4 billion kWh, up 2.4% YoY, of which industrial electricity consumption was 606.5 billion kWh, up 2.7% YoY. Electricity consumption in high-tech and equipment manufacturing maintained rapid growth momentum, reaching 122.2 billion kWh, up 7.2% YoY.

China State Construction announced that the total value of new contracts from January to August 2026 was 2,872.4 billion yuan, down 0.3% YoY. New contracts in the construction business totaled 2,659.4 billion yuan, down 0.2% YoY, of which building construction accounted for 1,823.8 billion yuan, up 3.6% YoY, infrastructure accounted for 827.7 billion yuan, down 7.6% YoY, and overseas operations accounted for 210.6 billion yuan, up 57.4% YoY. Contracted sales in the real estate business totaled 212.9 billion yuan, down 1.2% YoY.

According to the latest data from the General Administration of Customs, China exported 6 million mt of steel sheets & plates in August 2026, up 6.6% YoY. Cumulative exports from January to August totaled 44.26 million mt, down 7.9% YoY. In August, China exported 1.93 million mt of steel bars, up 18.1% YoY. Cumulative exports from January to August totaled 13.86 million mt, up 13.1% YoY. In August, China exported 650,000 mt of angle steel and sections, down 1.4% YoY. Cumulative exports from January to August totaled 5.23 million mt, up 4% YoY. In August, China exported 240,000 mt of steel wire rod, down 9.1% YoY. Cumulative exports from January to August totaled 1.84 million mt, down 5.8% YoY.