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MMi
[SMM Survey] A Good Start to the New Year: Iron Ore Concentrates Production Slightly Increased
Jan 13, 2025, at 2:30 pm
According to the survey data from SMM, the capacity utilisation rate of domestic mines reached 53.4% last week, an increase of 4.2% compared to the previous week. The production of iron ore concentrates was 713,000 mt, an increase of 56,000 mt, while the inventory of mine concentrates decreased by 15,000 mt to 215,000 mt.
According to SMM's survey data, the capacity utilisation rate of domestic mines reached 53.4% last week, an increase of 4.2% compared to the previous week. The production of iron ore concentrates was 713,000 mt, an increase of 56,000 mt, while the inventory of iron ore concentrates decreased by 15,000 mt to 215,000 mt.
Last week, the production of iron ore concentrates continued to grow, with the increase mainly concentrated in Shandong and Anhui. This was primarily due to mines ramping up production efforts to achieve new production targets after entering 2025. However, the production of iron ore concentrates in Hebei declined, mainly because a major underground mine in Chengde experienced a significant accident in late December last year, prompting the government to adopt a zero-tolerance policy towards such incidents. The mine remains shut down, and production at some nearby underground mines also slightly decreased due to safety inspections.
Inventory-wise, as the Chinese New Year approaches, steel mills are expected to carry out some restocking operations, leading to a slight decrease in inventory levels. For this week, SMM's tracking data indicates that domestic mine production remains relatively stable, and the production of iron ore concentrates is expected to remain steady.
