According to SMM research, the maintenance impact volume of construction steel products during this week (May 17–23) continued to increase slightly. Steel mills initiated scheduled maintenance on blast furnaces and rebar rolling lines this week, with the total maintenance impact volume reaching 1.1378 million tons, a week-on-week increase of 24,000 tons.

[Brief Review of Domestic Iron Ore Market: Iron Ore Concentrates Prices in Shandong Region May Remain in the Doldrums] This week, Shandong miners reported a price of RMB 865 (up by 21) for 64% grade alkaline iron ore concentrates, dry basis, tax excluded, and acceptance payment at the mine. Steelmakers also raised their prices in tandem. Most miners are operating normally, with overall local sales being average. Inventory has accumulated at some mines and beneficiation plants, while sales at small mills and traders have been relatively average. Currently, the cost-effectiveness of domestic iron ore concentrates has weakened.

Today, the DCE Iron Ore futures continued to operate in the doldrums, with the most-traded contract I2509 closing at 722.5, down 0.89% for the day. Traders' enthusiasm for selling was moderate; steel mills adopted a cautious wait-and-see attitude and purchased as needed.

[SMM Steel Mill Guidance Price] Guidance Prices for Different Series of Domestic Large Stainless Steel Mills on May 19