Dear Sir or Madam, SMM offices will be closed for the Mid-Autumn Festival and National Day holiday from September 29 to October 6, 2023.

DCE iron ore futures continued to fluctuate in a day, the main contract I2401 closed 852, an increase of 0.89% throughout the day.

In the Tangshan iron ore concentrate market, the leading steel company’s bidding price was reduced by 10 yuan/mt yesterday.

The most-traded DCE 2401 iron ore contract closed up 0.59% at 846.5 yuan/mt yesterday.

People's Bank of China launched a 101 billion yuan 7-day reverse repurchase operation today, with a winning bid rate of 1.8%.

Data from the China Passenger Car Association (CPCA) shows that from September 1 to 24, 508,000 new energy vehicles (NEVs) were sold, a year-on-year increase of 33% and a month-on-month increase of 11%.

The 2023 third quarter (102nd overall) regular meeting of the Monetary Policy Committee of the People’s Bank of China held in Beijing on September 25 pointed out that the implementation of introduced monetary policies should be intensified to guarantee liquidity at a reasonable and sufficient level, ensure credit growth at a reasonable and steady pace, and maintain the growth rate of money supply and social financing to basically match the nominal economic growth rate.

The latest RMB monthly report and data statistics released by the Society for Worldwide Interbank Financial Telecommunication (Swift) show that in August 2023, the RMB remains the fifth most active currency in the ranking of global payment currencies based on amount statistics, accounting for 3.47%, which hits a record high.