[SMM Steel Shipping] Total Chinese Steel Exports Rose 15% WoW Last Week

[Domestic Iron Ore Brief Commentary: Prices for Iron Ore Concentrates in Shandong May Have Some Room to Move Up] This week, in Shandong, mines and beneficiation plants quoted 845, up 17, for 64-grade alkaline concentrates on a dry basis, pre-tax, payable by acceptance, ex-mine. Mines and beneficiation plants were mostly operating normally, steel mills showed fairly strong purchasing interest, and market trading activity picked up; some supply began to flow to Hebei. Steel mills were mostly operating normally as planned, and purchasing interest improved recently. Coupled with the recent strength in iron ore futures, this provided support, driving

Iron ore prices showed an N-shaped rise today, with the main contract I2605 finally closing at 784.5 yuan per ton, up 2.28% from the previous session. Meanwhile, spot prices increased by 5-15 yuan compared to the previous trading day.

According to SMM’s latest tracking, the total planned volume of cold-rolled commercial products for this month across 31 mainstream cold-rolled coil steel mills was 4.073 million mt, up 257,500 mt from last month’s actual production of cold-rolled commercial products, an increase of 6.7%.