Domestic concentrates market weakens amid production recovery

In March, China's domestic iron ore concentrate market retreated slightly amid recovering supply, combined with weak demand from steel mills facing cost pressures and weak finished steel sales. Meanwhile, the weakness in DCE futures contracts also weighed on the spot market, although improved steel sales in late-March offset the overall decline. As of March 31, the Mysteel 66% Tangshan Concentrates Price Index fell by 0.62% on-month to Yuan 958/tonne.

Fundamentals weakened slightly as production outpaced demand growth. In March, domestic concentrate output across 332 Chinese mines reached an estimated 21.86 million tonnes. This marks a 11.65% increase from February, mainly driven by production resumption in East China, along with production ramp-up in Northeast and Northwest China. However, environment