According to SMM data, the capacity utilisation rate of domestic mines last week was 58.6%, up 2 percentage points WoW. The production of iron ore concentrates was 782,000 mt, an increase of 26,000 mt MoM. In addition, the inventory of mine concentrates decreased by 20,000 mt, with the current inventory standing at 275,000 mt.
Last week, domestic iron ore concentrate production showed a slight upward trend, as a previously suspended mine in Shandong resumed production, though it has not yet reached full capacity. Looking ahead this week, domestic iron ore concentrate production is expected to remain relatively stable in the short term. Over a longer period, attention should be paid to the resumption of production in Tangshan, Hebei, and Dai County, Shanxi, with a significant increase in production expected in Q3.
