NEWS

Domestic Iron Ore Production Slight Increase

According to recent data, China's domestic iron ore mines operated at a capacity utilization rate of 58.6% last week, up 2 percentage points from the previous week. Iron ore concentrate production also increased, reaching 782,000 metric tons, a 26,000 metric ton rise from the previous month. Additionally, inventory levels decreased by 20,000 metric tons to 275,000 metric tons. The increase in production is attributed to the resumption of a previously suspended mine in Shandong, although it has not yet reached full capacity. Looking ahead, domestic iron ore concentrate production is expected to remain relatively stable in the short term. However, a significant increase in production is anticipated in Q3, driven by the resumption of production in regions such as Tangshan, Hebei, and Dai County, Shanxi.