Overall, cost support remained strong, supply tightened while demand stayed stable. As tender prices became clear, aluminum fluoride prices were generally raised by around 800 yuan/mt in line with the guidance. Going forward, close attention should be paid to dynamic changes in raw material costs and adjustments in downstream procurement pace.

[China Iron Ore Brief Review] In west Liaoning, local iron ore concentrates prices fell slightly by 5 yuan/mt, with the ex-factory prices of 66-grade iron ore concentrates, wet basis and excluding tax, at 735-740 yuan/mt; recently, production at some local mines and beneficiation plants was hindered by environmental protection inspections, leaving overall iron ore concentrates resources relatively tight. Demand side, steel mills were mainly purchasing as needed, and the whole

[China Iron Ore Brief Review: Tight Resources in West Liaoning, Local Ore Prices May Edge Up Slightly] The domestic ore market in west Liaoning was relatively stable, with the ex-factory prices of 66-grade iron ore concentrates, wet basis and excluding tax, at 730-740 yuan/mt. Supply and demand were clearly in a wait-and-see mode. Beneficiation plants, considering the relatively small inventory pressure, temporarily held back from selling. Against this backdrop, traders were not highly motivated to make inquiries, and only a few made price inquiries based on their own needs. Affected by safety and environmental protection inspections, mining was restricted, and a small number of operating beneficiation plants suspended production for maintenance due to constraints in ROM resources. Circulating spot resources remained tight, which still provided certain support for ore prices.

[China Iron Ore Brief Comment: Iron Ore Concentrates Prices in Tangshan Might Have Some Room to Move Higher] Iron ore concentrates prices in Tangshan were relatively stable today, with the ex-factory prices of 66-grade dry-basis iron ore concentrates including tax at 970-980 yuan/mt. The intensity of environmental protection inspections weakened, and steel mills as well as ore beneficiation gradually resumed production, but producers turned cautious in their operations, market inquiries were not active, and beneficiation plants considered costs as well as inventory

Dalian iron ore fluctuated upward today, with the most-traded contract I2605 finally closing at 787.5 yuan/mt, up 0.90% from the previous trading session. Meanwhile, spot prices rose 2-3 yuan from the previous trading day. Traders were moderately active in offering quotations, while steel mills made inquiries. Overall spot market transactions were sluggish. An SMM tracking survey showed that the operating rate of blast furnaces at 242 steel mills was 85.99% this week, while daily average hot metal production reached 2.3514 million mt, down 36,400 mt WoW. Multiple steel mills in Hebei underwent concentrated maintenance due to safety and environmental protection inspections, and the maintenance cycles were relatively short. Therefore, the decline in iron ore demand was more pronounced this week. Looking ahead, given that maintenance cycles for most blast furnaces were relatively short, the intensity of maintenance is expected to gradually ease in the later stage, and daily average hot metal production is expected to rebound quickly, with iron ore demand likely to improve next week. Overall, iron ore is likely to remain in the doldrums in the near term.

[China Iron Ore Brief: Iron Ore Concentrates Prices in West Liaoning May Have Room to Move Higher] Trading sentiment in the domestic ore market in west Liaoning was relatively cautious, with the ex-factory prices of 66-grade iron ore concentrates, wet basis and excluding tax, at 715-720 yuan/mt. Affected by safety and environmental protection inspections, local iron ore concentrates saw capacity utilization rates remain at relatively low levels, with overall resources tight, boosting sentiment among producers holding cargoes, while overall wait-and-see sentiment was relatively strong. Demand side, local steel mills mostly maintained normal production as planned