[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

[SMM Daily Brief Review of Coking Coal and Coke] In terms of supply, coking costs at coke producers increased, profit per mt of coke narrowed somewhat, and coke producer inventories still needed to be drawn down, weighing on their production enthusiasm. However, downstream demand improved somewhat, and coke producers were actively making shipments. Demand side, the country's important meetings have concluded, and blast furnaces previously subject to production restrictions resumed production one after another, increasing rigid demand for coke. However, uncertainty still remained in finished steel consumption, and most steel mills remained cautious in their coke procurement. In summary, the supply-demand imbalance in the coke market eased somewhat, and cost support strengthened. In the short term, the coke market may temporarily remain stable.

[SMM Daily Brief Review of Coking Coal and Coke] In terms of supply, as the Two Sessions ended, coke producers previously subject to production restrictions gradually resumed production. With losses per mt of coke remaining within an acceptable range, production enthusiasm was moderate, and coke supply increased steadily. On the demand side, as the country's important meetings ended, steel mills previously subject to production restrictions were expected to resume production, leading to some increase in coke demand. However, as no clearly positive policies emerged from the Two Sessions, market wait-and-see sentiment remained strong, and steel mills maintained a cautious attitude toward coke, mainly purchasing as needed. In summary, the coke market may remain temporarily stable in the short term.

[China Iron Ore Brief: Iron Ore Concentrates Prices in Tangshan Had Some Room to Move Higher] Iron ore concentrates prices in Tangshan were relatively stable this week, with the ex-factory prices of 66-grade dry-basis, tax-included iron ore concentrates at 970-980 yuan/mt. As the important meeting was about to close, the impact of environmental protection and safety inspections gradually weakened, and some mines and beneficiation plants showed stronger willingness to produce, though overall iron ore concentrates resources remained relatively tight. According to SMM tracking, after the meeting ended, some mines and beneficiation plants that had suspended production earlier

[Domestic Iron Ore Brief Commentary: Iron Ore Concentrates Prices in the Tangshan Area May Have Some Room to Move Higher] The Tangshan domestic ore market saw a wait-and-see stance in supply and demand, with environmental protection-related controls constraining beneficiation production; overall iron ore concentrates resources were relatively tight, and beneficiation plants holding cargo showed strong bullish sentiment. The local delivery-to-factory price, tax included, for 66 grade iron ore concentrates (dry basis) was 970-980 yuan/mt. Steel mills, recently affected by production restrictions, saw a noticeable phased decline in overall hot metal, but it is expected to gradually return to normal next week, so demand support for iron ore concentrates remains. In addition, the recent trend in iron ore futures prices

[SMM Daily Brief Review of Coking Coal and Coke] In terms of supply, costs edged down slightly, coke producers' profits improved somewhat, and the overall operating rate remained moderate. However, downstream purchasing sentiment was average, the shipment pace of some coke producers slowed down, and inventory pressure persisted to some extent. On the demand side, steel mills' profitability did not improve significantly, and the procurement pace of some steel mills slowed down, with purchase as needed remaining the main approach for coke. Overall, the coke market may remain temporarily stable next week, and expectations for price cuts have temporarily dissipated.

[SMM Daily Brief Commentary on Coking Coal and Coke] In terms of supply, during the major meetings, apart from some coke enterprises in regions such as Tangshan, Hebei being passively subject to 20%–30% production restrictions, most enterprises in other regions maintained normal production, and supply was relatively ample. Demand side, due to the Two Sessions, some steel mills proactively implemented production cuts; this week, hot metal continued to decline, and rigid demand for coke continued to weaken. Overall, coke fundamentals were weak, but supported by gains in coke futures, bearish sentiment temporarily dissipated, and the coke market may run steadily in the short term.

[SMM Daily Brief Review of Coking Coal and Coke] In terms of supply, coke producers' profits were weak, coupled with the relatively small room for coal mines to offer concessions, which did not fully restore coke producers' profits. As a result, their willingness to increase output was low, and they maintained normal production. On the demand side, the Two Sessions are about to conclude, and steel mills that had previously imposed voluntary production restrictions are expected to resume production, which may increase demand for coke. However, due to the slow destocking speed of finished steel products, steel mills remained cautious toward coke and adopted a purchase-as-needed strategy. In summary, with steel mills purchasing cautiously and coke producers' cost downside room limited, the coke market may remain temporarily stable in the short term.

[SMM Daily Brief Review of Coking Coal and Coke] In terms of supply, losses per mt of coke at coking enterprises widened slightly, operating rates barely maintained the previous level, and there was no willingness to increase production. Coke supply was relatively stable, but downstream buying interest was not high, resulting in some inventory buildup pressure at coking enterprises. On the demand side, the Two Sessions have not yet concluded, the daily average hot metal production at steel mills declined temporarily, and enthusiasm for restocking coke was not high, with just-in-time procurement maintained. In summary, sales pressure on coking enterprises increased somewhat, and cost support is expected to weaken. In the short term, the coke market may remain in the doldrums.

[Domestic Iron Ore Brief Commentary: Iron Ore Concentrates Prices in the Tangshan Area May Remain in the Doldrums and Fluctuate] At the beginning of the week, iron ore concentrates prices in the Tangshan area were relatively stable, with the delivery-to-factory price, tax included, for 66-grade dry-basis iron ore concentrates at 960-970 yuan/mt; mines and beneficiation plants in the area are currently operating normally as expected. During the Two Sessions, no relevant explosives restriction notices were received locally, but overall iron ore concentrates supply remains tight, providing some support to prices. Demand side, some steel mills are currently undergoing maintenance.