[China Domestic Ore Brief] Iron ore concentrates prices in the Tangshan area edged up by 10-15 yuan, with current 66-grade iron ore concentrates priced at 990-995 yuan/mt on a dry basis, tax-inclusive, ex-factory. Recently, finished steel prices rose, improving steel mill profits. Combined with imported ore prices fluctuating upward, this drove domestic iron ore concentrates prices to rise. Looking ahead to next week, domestic ore supply remains tight. Demand side, domestic steel mills' high

[Domestic Iron Ore Brief] Domestic iron ore concentrates market prices were basically stable this week. In terms of regional performance, prices in Tangshan, Qian'an, and Qianxi in Hebei edged up by 5-10 yuan/mt; prices in Chaoyang, Beipiao, and Jianping in western Liaoning were basically stable; prices in east China declined by 1-5 yuan/mt.

Indonesian state-owned steel giant PT Krakatau Steel (Persero) Tbk (IDX: KRAS, hereinafter referred to as "Krakatau") released its 2025 consolidated financial statements on March 31, 2026. On the surface, the company recorded a net profit of 339.6 million USD (approximately 5.68 trillion IDR), its best performance since 2019. However, unpacking the core steel business reveals that the steel segment's operating loss in 2025 actually widened from 40.79 million USD in 2024 to 102.5 million USD.

According to SMM statistics, steel mill inventory accumulated slightly, social inventory destocking decelerated, and total construction steel inventory stood at 8.4878 million mt, down 31,800 mt WoW (-0.37%), with the destocking slope flattening.

[SMM Hydrogen Energy News: World's First 5 MW AEM Hydrogen Production System Commissioned, Intelli Provides Core Rectification Equipment] Recently, the world's first 5 MW anion exchange membrane (AEM) water electrolysis hydrogen production system completed installation and commenced commissioning, marking the official entry of megawatt-scale AEM technology into the industrial application stage. The project innovatively established an integrated "PV—AEM hydrogen production—blast furnace hydrogen-rich smelting" system. The green hydrogen produced will be used for hydrogen-rich injection in the steel group's blast furnaces, facilitating coal reduction and carbon reduction goals. The core rectification equipment for the system was provided by Hubei Intelli Electric, configured with 5 sets of IGBT rectifier power supplies, featuring advantages such as high power factor, low harmonics, and fast response. It can precisely match large power AEM electrolysis cells, providing reliable power supply assurance for stable system operation.

ArcelorMittal has adjusted its long-term strategy, stating that it will not initiate any new electric arc furnace (EAF) investments until its 2 Mt/y reference project in Dunkirk, France, is nearing completion. The group's 2025 Sustainability Report indicates that due to high energy prices in Europe (well above $30/MWh) and slow progress in green hydrogen infrastructure, the company will adopt a "flexible and adaptable" strategy, prioritizing financial discipline. The Dunkirk EAF project, costing €1.3 billion, has a planned capacity of 2 Mt/y and is expected to begin production in 2029, reaching full capacity in 2030-2031. The new EAF will replace two existing blast furnaces with a combined capacity of 1.8 Mt/y.