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Friday 7th July 2017Issue 577

Mysteel Iron Ore Index 62% Fe (Australia Fines) CFR

Vice President:Zhang Yong [email protected]

Head of Market Intelligence:Atilla Widnell [email protected]

Editors:Victoria [email protected]

Eleanor Wu [email protected]

Industry & Market News 2

Chinese Raw Materials Prices 4

Key Indicators & Analysis 6

Maintenance & Restrictions 8

Iron Ore Shipments 9

Domestic Mine Operation 11

Inventories Overview 12

Port Congestion 13

Inventories of Australian Ore 14

Inventories of Brazilian Ore 15

Inventories of Indian Ore 16

Iron Ore For Trading 17

Stocks in Bonded Areas 18

Daily Offtakes 19

Total Iron Ore Inventories 20

About Mysteel 21

Contents

Editorial

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Renewed domestic iron ore consumption provides support to local portside prices

Mysteel’s major iron ore portside prices edged up around RMB5/t today, as mills returned to the market after a period of sitting on the sidelines. We had heard some mills had been reluctant to purchase material earlier in the week due to unclear direction in the market. More recently, however, some mills have ramped up their output in response to robust margins and the end of routine maintenance programmes. For example, Mysteel’s bespoke survey of blast furnace capacity utilization across 163 steel mills shows that rates increased 0.74% week-on-week tp 85.34% on Friday 7th July 2017.

That said, Mysteel understands some traders were reluctant to sell cargoes. As a result, some steel mills raised offer prices to conclude deals. At the same time, we estimate relatively lower portside inventories supported the increase in portside prices. According to Mysteel’s survey of 45 major do-mestic ports, inventories declined 1.84 Mt over the past week to 142.29 Mt on Friday 7th July. As a result, Mysteel’s 62% Fe iron ore index for portside materials increased RMB7/t day-on-day to RMB478/t, FOT Qingdao (incl. tax).

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Friday 7th July 2017 Copyright © Mysteel.net, 2017. All Rights Reserved www.mysteel.ne

Hei Longjiang province announces plans to close four coal mines; eliminating 2.92Mt of capacity in 2017. Hei Longjiang province an-nounced plan to permanently close four coal mines and eliminate 2.92Mt of capacity in 2017. Among the four coal mines, the closure of the Xin Lu colliery of He Gang Mining Company, and the Xin Qiang colliery of Qi Taihe Mining Company, belonging to Longmayi Mining Group, will eliminate 1.00Mt and 1.4Mt annual capacity respectively.

Meanwhile, the two other mines of Yi Wuyi Coal Mining Co., Ltd in Hei He city will see the removal of 450,000 and 70,000 of annual coal capacity. Moreo-ver, the provincial government plans to resettle the 8,199 affected coal workers.

80% of Chinese enterprises fail to meet strict environmental standards. The chair-man of the supervisory board, Ji Xiaonan, from SASAC key large enterprises said at the China Green Development Forum on 6th July 2017 that approximately 80% of China’s enterprises have various problems meeting environmental regulations according to the supervision on the prevention and control of air pollution in Beijing, Tianjin and the sur-rounding areas. Moreover, Ji Xiaonan noted there was a huge challenge for China to deal with the relationship between enterprise development and environmental governance. The chairman stated that central enterprises will play an important role during the process of developing greener practices, which was also up to the industry to manage. Cut-ting overcapacity and adjusting layout structure are helpful to reduce waste of resources and promote green development.

Newly-added electric furnaces not to disturb balance between supply and demand. Market participants argued that the balance between supply and demand will not be disturbed by properly re-leased capacity amid high profit in steel industry. As one of the raw materials for steel production, scrap followed the rising trend of steel prices recent-ly due to the increasing usage of electric furnaces after substandard steel elimination, and the bullish sentiment of steel traders, seen by Wei Yingsong, a senior analyst from Mysteel. A steel trader from Qingdao indicated that steel prices may continue to maintain at a high level on

the back of low inventory driven by mills’ production restriction. Steel supply may move up steadily but the co-relation between supply and demand will not be changed drastically, said Wei Songhui, researcher of Minmetals & Jingyi Futures. Steel structure upgrad-ing and capacity optimization is the irreversible trend under the background of supply-side reform, supply will be kept within a controllable range even though it may show a certain upward trend. In addition, it is estimated that in the second half year, steel demand will become stronger driven by the increased invest-ment of infrastructures construction, which can help GDP growth rate stay above 6%.

Industry & Market News

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Global Economics: Central Banks are be-coming more hawkish. The Fed has been for some time the only hawk amongst Central Bankers. Markets have anticipated another 25bp interest rate hike in 2017 with the possibility of two more in-creases in 2018. As the world economy is continuing its synchronised upswing, the Fed hawkish rhetoric has been joined by the European Central Bank, the Bank of Canada and after a surprising reversal, by Bank of England, triggering the question whether we could see a synchronised tightening. Central Bank-ers are certainly making their rhetoric louder but we believe that they will be very prudent in walking the walk with more tolerance for inflation -which has yet to materialize- and not put the economy at risk.In the US, Fed officials have been discussing over how the central bank should react to the US econ-omy’s seemingly conflicting signals from unemploy-ment and inflation.

Joblessness dropped to 4.3% in May, a 16-year low. Ms Yellen and some of her colleagues have called for continued, if slow, tightening because they ex-pect labour market gains will eventually trigger high-er wages and overall prices. Last week however, Ms Yellen nodded to concerns among some economists that inflation expectations might be declining. ‘We don’t get a consistent story,’ she said. In a com-prehensive speech hold in Sintra, Portugal, ECB’s President Draghi said that ‘deflationary forces’ have been replaced by ‘reflationary forces’ summarizing the optimism in the euro-area. Mr Draghi appeared also convinced that the Phillips Curve will steepen at some stage but called for patience. He mentioned that external shocks -mostly driven by commodities-, wages upward resistance and a ‘labour market more contestable’ are causing delays in the transmission from demand growth to inflation. Mr Draghi also said that patience was still necessary before removing the accommodative monetary policy. Nevertheless, Germany’s 10-year bond yield surged from 0.245% to 0.45% also helped by an increase in the German June inflation to 1.5% YoY from 1.4% YoY in May.

China economy: stronger than expected. China’s manufacturing PMI increased in June to 51.7 vs 51.2 in May, beating a consensus forecast of 51, an indication that China manufacturing is taking full advantage of a stronger global economic demand. Non-manufacturing PMI also increased to 54.9 in June vs 54.5 in May, indicating a buoy-ant service and construction activity. These positive

numbers come at a time when the Chinese govern-ment is trying to keep a strong economic growth while embarking into a series of measures aiming at de-leveraging the economy. It therefore gives more room for the PBOC to push ahead with reforms. However, we believe that as the 19th National Con-gress of the Communist Party of China nears, the monetary authorities will become more prudent, to ensure that there will be sufficient financial stability at that time.

The Chinese Yuan has also posted its strongest quarterly gain in nine years, rising 1.8% vs the US dollar over the past three months. All this points towards a stronger than expected economy in the second part of the year with at worst a mild slow-down driven by moderating property prices. It is difficult to not mention the 20th anniversary of Hong Kong handover to China, which took place on July 1st 1997. In its speech Chinese President Xi Jinping said that challenges to China’s rule would not be tolerated and that the city’s leaders must find new ways to profit from Chinese economic clout, adding that they must build political consensus, devise new economic drivers and address soaring home prices. Hong Kong has Asia’s largest wealth disparity with housing prices having increased by nearly 400% over the past thirteen years while the median wages trailed with a 75% rise. In terms of economic weight, Hong Kong accounts now for only 3% of total China’s economy vs nearly 20% two decades ago, reducing China’s tolerance for any political dissent. During Mr Xi’s visit, the Hong Kong stock exchange announced that foreign investors would, from Mon-day July 3rd, gain access to China’s US$10tn debt market through a local bond connect. Mr Xi also oversaw the signing of an agreement to develop closer economic links between Hong Kong, Macau and nine cities in the Guangdong province.

Weekly Economic Highlights provided by:

Erik Sardain and Gilberto CardosoManaging PartnersVictorem Capitalwww.victoremcapital.net

The opinions, findings, and conclusions or recommendations expressed in this analysis are those of the authors and do not necessarily re-flect the views of Mysteel or Shanghai Ganglian.

Economic Highlights

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Chinese Raw Materials Prices Benchmark Grade Terms Units Latest Prev. Day D/D % Prev. Week W/W % Prev. Month M/M %

Fines Mysteel Australian Fines 58% Index CFR $/dmt 51.50 49.75 3.5% 51.50 0.0% 46.75 10.2%Mysteel Australian Fines 62% Index CFR $/dmt 63.80 62.00 2.9% 63.90 -0.2% 56.00 13.9%Mysteel Brazilian Fines 65% Index CFR $/dmt 80.15 77.65 3.2% 79.45 0.9% 71.50 12.1%Mysteel Indian Fines 52% CFR $/dmt 25.00 23.50 6.4% 24.75 1.0% 18.75 33.3%Mysteel Indian Fines 56% CFR $/dmt 33.95 32.45 4.6% 33.95 0.0% 28.70 18.3%Mysteel Indian Fines 58% CFR $/dmt 37.75 36.25 4.1% 37.50 0.7% 32.50 16.2%Mysteel Indian Fines 63.5% CFR $/dmt 62.95 61.45 2.4% 63.55 -0.9% 56.05 12.3%Mysteel Australian Fines 58% Port Index FOT RMB/wmt 416.00 411.00 1.2% 408.00 2.0% 395.00 5.3%Mysteel Australian Fines 62% Port Index FOT RMB/wmt 478.00 471.00 1.5% 471.00 1.5% 440.00 8.6%Mysteel Brazilian Fines 65% Port Index FOT RMB/wmt 625.00 615.00 1.6% 601.00 4.0% 606.00 3.1%Caofeidian PB Fines 61.5% Port Index FOT RMB/wmt 485.00 485.00 0.0% 480.00 1.0% 440.00 10.2%Robe Valley Fines 57.0% CFR $/dmt 48.45 46.95 3.2% 48.45 0.0% 43.45 11.5%Yandi fines 57.3% CFR $/dmt 50.30 48.80 3.1% 50.55 -0.5% 45.80 9.8%SSF 56.7% CFR $/dmt 41.75 40.50 3.1% 42.00 -0.6% 39.00 7.1%FB Fines 58.3% CFR $/dmt 47.25 45.75 3.3% 46.20 2.3% 41.20 14.7%PB fines 61.0% CFR $/dmt 62.70 60.90 3.0% 62.80 -0.2% 55.15 13.7%Mac fines 60.8% CFR $/dmt 58.35 56.55 3.2% 58.05 0.5% 48.95 19.2%JMBF 61.3% CFR $/dmt 56.15 54.35 3.3% 55.50 1.2% 48.85 14.9%Newman fines 62.5% CFR $/dmt 65.00 63.20 2.8% 65.10 -0.2% 57.70 12.7%SSFG 62.5% CFR $/dmt 59.60 58.10 2.6% 60.45 -1.4% 53.20 12.0%SSFT 62.5% CFR $/dmt 60.00 58.50 2.6% 60.85 -1.4% 53.60 11.9%BRBF 63.1% CFR $/dmt 62.25 60.75 2.5% 63.10 -1.3% 56.40 10.4%IOCJ 65.0% CFR $/dmt 79.50 77.00 3.2% 78.80 0.9% 70.85 12.2%Indian fines 50/50% CFR $/dmt 23.25 21.75 6.9% 23.00 1.1% 16.75 38.8%Indian fines 55/54% CFR $/dmt 31.45 29.95 5.0% 31.45 0.0% 25.70 22.4%Indian fines 60/59% CFR $/dmt 49.05 47.55 3.2% 49.60 -1.1% 41.80 17.3%Indian fines 61/60% CFR $/dmt 50.80 49.05 3.6% 51.35 -1.1% 43.30 17.3%Indian fines 62/61% CFR $/dmt 54.60 52.85 3.3% 55.20 -1.1% 47.15 15.8%Indian fines 63/62% CFR $/dmt 58.40 56.65 3.1% 59.00 -1.0% 51.20 14.1%Iranian Hematite fines 60/59% CFR $/dmt 34.00 32.25 5.4% 33.75 0.7% 28.25 20.4%Iranian Hematite fines 61/60% CFR $/dmt 35.00 33.25 5.3% 34.75 0.7% 29.25 19.7%Iranian Hematite fines 62/61% CFR $/dmt 36.00 34.25 5.1% 35.75 0.7% 30.25 19.0%Iranian Magnetic fines 60/59% CFR $/dmt 36.00 34.25 5.1% 35.75 0.7% 30.25 19.0%Iranian Magnetic fines 61/60% CFR $/dmt 37.00 35.25 5.0% 36.75 0.7% 30.25 22.3%Iranian Magnetic fines 62/61% CFR $/dmt 38.00 36.25 4.8% 37.75 0.7% 32.25 17.8%

Lump Mysteel Lump Premium 62.5% Index $/dmtu 0.200 0.200 0.0% 0.190 5.3% 0.126 58.7%PB lumps 62.5% CFR $/dmt 76.55 74.75 2.4% 76.00 0.7% 64.00 19.6%Newman lumps 63.2% CFR $/dmt 77.85 76.05 2.4% 77.20 0.8% 64.75 20.2%Mac lumps 62.5% CFR $/dmt 75.40 73.60 2.4% 75.00 0.5% 63.20 19.3%Tianjin PB Lumps 62.5% FOT RMB/wmt 650.00 650.00 0.0% 645.00 0.8% 625.00 4.0%Rizhao PB Lumps 62.5% FOT RMB/wmt 625.00 615.00 1.6% 605.00 3.3% 590.00 5.9%

Pellet Mysteel Pellet Premium 63% Index $/dmt 21.00 21.00 0.0% 20.50 2.4% 17.00 23.5%Mysteel Pellet Premium 65% Index $/dmt 29.50 29.50 0.0% 28.00 5.4% 23.00 28.3%Ukraine/Russia Pellets 63% CFR $/dmt 85.75 84.00 2.1% 85.50 0.3% 74.25 15.5%Ukraine/Russia Pellets 65% CFR $/dmt 96.50 94.50 2.1% 95.00 1.6% 82.00 17.7%

Concentrate Tangshan (excl. VAT) 66% EXW RMB/wmt 510.00 510.00 0.0% 505.00 1.0% 520.00 -1.9%Tangshan (incl. VAT) 66% EXW RMB/dmt 645.00 640.00 0.8% 630.00 2.4% 655.00 -1.5%Ukrainian/Russian Pellet feed 65% CFR $/dmt 73.25 71.50 2.4% 73.00 0.3% 63.80 14.8%Iranian Pellet feed 66% CFR $/dmt 71.25 69.50 2.5% 70.75 0.7% 64.50 10.5%Iranian Pellet feed (HS) 66% CFR $/dmt 69.25 67.50 2.6% 68.75 0.7% 62.50 10.8%Iranian Sinter feed conc. 66% CFR $/dmt 69.25 67.50 2.6% 68.75 0.7% 62.50 10.8%Iranian Sinter feed conc. (HS) 66% CFR $/dmt 67.25 65.50 2.7% 66.75 0.7% 60.50 11.2%

Other Per 1% Fe Differential 60-63.5% Index $/dmt 1.15 1.15 0.0% 1.05 9.5% 1.05 9.5%PB Fines vs. Tangshan Conc. 61.5% vs. 66% Spread RMB/dmt -95.00 -85.00 11.8% -85.00 11.8% -125.00 -24.0%

Data Updated: 07/07/2017

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Chinese Raw Materials Prices Benchmark Grade Terms Units Latest Prev. Day D/D % Prev. Week W/W % Prev. Month M/M %

Primary, Hard Changzhi Coal (low S) S0.4, V18-19, A<8.5, G85, Y14EXW RMB/wmt 1,205 1,205 0.0% 1,205 0.0% 1,225 -1.6%

& Semi-Soft Liulin Coal (low S) V20, G>90, A9.5, S0.6 EXW RMB/wmt 1,230 1,230 0.0% 1,230 0.0% 1,230 0.0%

Coking Coal Anze Coal A9.5, S1.5-1.8, V30, G85, Y25EXW RMB/wmt 1,220 1,220 0.0% 1,220 0.0% 1,220 0.0%Tangshan Coal A11-12, V22, S0.8-0.9, G>85, Y17-23EXW RMB/wmt 1,340 1,340 0.0% 1,340 0.0% 1,340 0.0%Huaibei Coal* A11, V20-22, G80-90 EXW RMB/wmt 1,200 1,200 0.0% 1,200 0.0% 1,200 0.0%Huaibei Coal Index A11, V20-22, G80-91 FOT RMB/wmt 1,200 1,200 0.0% 1,200 0.0% 1,200 0.0%Pingdingshan S<0.5, A <10, V<26, G80, Y18-20FOT RMB/wmt 1,285 1,285 0.0% 1,285 0.0% 1,335 -3.7%

Import, Australian A10.5，V21，S0.6，G85，Y17，CSN8，CSR72CFR** $/t 158 158 0.0% 154 2.6% 158 0.0%Lingshi Fat Coal (high S) S<1.6, G>90, Y>22, A10, V27-32EXW RMB/wmt 1,065 1,065 0.0% 1,065 0.0% 1,115 -4.5%Wuhai 1/3 Coking Coal G80, Y17, A <10.5, S <1, V<32EXW RMB/wmt 940 940 0.0% 940 0.0% 910 3.3%Liupanshui 1/3 Coking Coal V25, G85, A10, S<O.8 FOT RMB/wmt 1,300 1,300 0.0% 1,300 0.0% 1,400 -7.1%

Coke Tianjin Port Quasi-first Grade FOB RMB/wmt 1,845 1,845 0.0% 1,845 0.0% 1,905 -3.1%Tangshan Quasi-first Grade Delivered RMB/wmt 1,755 1,755 0.0% 1,755 0.0% 1,755 0.0%Handan 2nd Grade EXW RMB/wmt 1,600 1,600 0.0% 1,600 0.0% 1,600 0.0%Changzhi 2nd Grade EXW RMB/wmt 1,510 1,465 3.1% 1,465 3.1% 1,475 2.4%Lǚliáng Quasi-first Grade EXW RMB/wmt 1,550 1,550 0.0% 1,550 0.0% 1,530 1.3%Linfen Quasi-first Grade FOT RMB/wmt 1,580 1,580 0.0% 1,530 3.3% 1,550 1.9%Wuhai 2nd Grade EXW RMB/wmt 1,400 1,400 0.0% 1,400 0.0% 1,265 10.7%Liupanshui 2nd Grade EXW RMB/wmt 2,060 2,060 0.0% 2,060 0.0% 2,060 0.0%Zaozhuang 2nd Grade EXW RMB/wmt 1,650 1,650 0.0% 1,600 3.1% 1,600 3.1%Pingdingshan Quasi-first Grade EXW RMB/wmt 1,765 1,765 0.0% 1,765 0.0% 1,765 0.0%Xuzhou Quasi-first Grade EXW RMB/wmt 1,830 1,830 0.0% 1,730 5.8% 1,660 10.2%Huaibei Quasi-first Grade EXW RMB/wmt 1,760 1,760 0.0% 1,760 0.0% 1,800 -2.2%MyCpic Coke Index Composite EXW RMB/wmt 1,646 1,644 0.1% 1,633 0.8% 1,629 1.1%MyCpic Coke Index East China EXW RMB/wmt 1,780 1,780 0.0% 1,775 0.3% 1,763 0.9%MyCpic Coke Index Central China EXW RMB/wmt 1,740 1,740 0.0% 1,720 1.1% 1,721 1.1%

PCI Coal Jining Gas Coal A8-9, G50-65, V30-32, S0.6EXW RMB/wmt 800 800 0.0% 800 0.0% 800 0.0%Shanxi Yangquan PCI Q7200, A11, S1.2 FOT RMB/wmt 875 875 0.0% 875 0.0% 875 0.0%Ningxia Shizuishan PCI Q6500, A10, S0.8 FOT RMB/wmt 780 780 0.0% 810 -3.7% 860 -9.3%Import, Australian PCI* V11-13, A9.5 CFR $/t 112.8 112.8 0.0% 113.0 -0.2% 115.3 -2.2%Import, Russian PCI* V11-13, A9.5 CFR $/t 100.0 100.0 0.0% 100.0 0.0% 105.0 -4.8%Import, Rizhao Port A<11, V<11, S0.8, HGI60, Q>6500EXW RMB/t 920 920 0.0% 920 0.0% 950 -3.2%Import, Rizhao Port A<12, V<10, S0.6, HGI55, Q>6500EXW RMB/t 930 930 0.0% 930 0.0% 930 0.0%Shanxi Yangquan PCI Index FOT RMB/wmt 800 800 0.0% 800 0.0% 800 0.0%Shanxi Shizuishan PCI Index FOT RMB/wmt 1,120 1,120 0.0% 1,020 9.8% 1,020 9.8%Import, Australian PCI Index DEQ RMB/t 875 875 0.0% 875 0.0% 891 -1.8%Import, Russian PCI Index DEQ RMB/t 835 835 0.0% 835 0.0% 859 -2.8%Pizhao Port PCI Index FOT RMB/t 930 930 0.0% 930 0.0% 930 0.0%

Pig Iron Tangshan (L8-L10) Steelmaking Pig Iron EXW RMB/t 2,520 2,520 0.0% 2,500 0.8% 2,500 0.8%Xuzhou (L8-L10) Steelmaking Pig Iron EXW RMB/t 2,360 2,360 0.0% 2,320 1.7% 2,250 4.9%Xiangfen (L8) Steelmaking Pig Iron EXW RMB/t 2,380 2,380 0.0% 2,350 1.3% 2,350 1.3%Yicheng (Z18-22) Casting Pig Iron EXW RMB/t 2,650 2,650 0.0% 2,630 0.8% 2,680 -1.1%Wuan (Z18-22) Casting Pig Iron EXW RMB/t 2,700 2,700 0.0% 2,680 0.7% 2,730 -1.1%Xuzhou (Z18-22) Casting Pig Iron EXW RMB/t 2,470 2,470 0.0% 2,450 0.8% 2,400 2.9%

Scrap Tangshan* 6-8mm MTP** RMB/t 1,670 1,670 0.0% 1,620 3.1% 1,490 12.1%Guangzhou* 6-8mm MTP** RMB/t 1,540 1,540 0.0% 1,470 4.8% 1,250 23.2%Shanghai* 6-8mm MTP** RMB/t 1,530 1,530 0.0% 1,500 2.0% 1,380 10.9%Zhangjaigang, Jiangsu* 6-8mm MTP** RMB/t 1,690 1,690 0.0% 1,610 5.0% 1,430 18.2%Hefei* 6-8mm MTP** RMB/t 1,510 1,510 0.0% 1,460 3.4% 1,380 9.4%Japan (Export) H2 FOB JPY/t 28,000 28,000 0.0% 28,000 0.0% 26,000 7.7%China (Import) US-origin HMS#1&2 (80:20) CFR $/t 278.0 278.0 0.0% 273.0 1.8% 268.0 3.7%

All prices incl. tax otherwise stated, *excl. tax **Market Transaction Price Data Updated: 07/07/2017

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Key Indicators & Analysis

Spreads rebounded to $12.7/t on Monday 3rd July, due to firm demand for high grade seaborne ore as it had been available at a discount to portside prices.

Chinese iron ore conc. output fell 3.3% month-on-month to 429kt per day on 22nd June 2017, as some mines were unable to compete with lower prices.

Chinese blast furnaces increased capacity utilization to 84.60% on 29th June 2017, from 83.53% on 1st June, in response to robust steel profit margins.

Portside spreads have widened to RMB62/t on Mon-day 3rd July, from a recent low of RMB35/t on Thurs-day 1st June, as mills chase high grade fines.

Chinese mine stocks of iron ore concentrate edged lower as a result of firm domestic consumption and relatively lower output over the past month.

Sinter composition in Chinese blast furnace burdens increased to a 4-month high of 75.5%, as mills have recently scaled back their consumption of lump ore.

Mysteel 62% vs 58% Seaborne Fines Spread ($/t)

Domestic Iron Ore Mine Conc. Output (ktpd)

BF Capacity Utilization vs. Profitability (%)

Mysteel 62% vs 58% Portside Fines Spread (RMB/t)

Domestic Iron Ore Mine Conc. Stocks (Mt)

Blast Furnace Iron Ore Burden (%)

02468

10121416

0

20

40

60

80

100

120

300320340360380400420440460

Thou

sand

s

0

2

4

6

8

10

79%

81%

83%

85%

87%

89%

0%

20%

40%

60%

80%

100% [LHS]Profitability [RHS]Capacity Utilization

72.0%

73.0%

74.0%

75.0%

76.0%

77.0%

78.0%

10.0%

11.0%

12.0%

13.0%

14.0%[LHS] Pellet [RHS] Sinter

7


Key Indicators & Analysis

Mills’ iron ore fines consumption to hand increased to 25 days on 28th June, as healthier steel margins encouraged some steel producers to restock.

Chinese mills’ seaborne and port stocks of iron ore have jumped from recent lows in response to robust arrivals and shipments over the past month.

Unsurprisingly, the iron content in sinter has remained relatively high (55.6%) as mills increase the productiv-ity and efficiency of their blast furnaces.

Inventories of relatively high grade Australian iron ore fines as a percentage of overall stocks have increased to 21.5% on 26th June, from 19.9% on 22nd May.

Mysteel calculates average Fe of local iron ore run-of-mine has slipped to 29.38% in mid- to late-June, as some unprofitable mines scaled back output.

Lower domestic iron ore output and increased arrivals of seaborne material have resulted in an increase in imported iron ore content in local sinter production.

Mills’ Iron Ore Consumption to Hand (Days)

Mills’ Iron Ore Inventory Structure (Mt)

Mills’ Sinter Ore Fe Grade (%)

Structure of Iron Ore Port Stocks

Chinese Iron Ore Run-of-Mine Fe Output (%)

Content of Imported Ore in Sinter (%)

10

15

20

25

30

35

40Pellet Sinter

10%

15%

20%

25%

30%

75

95

115

135

155IO Port Stock High Grade Aus. Fine

4

6

8

10

12Mill Port Seaborne

20

22

24

26

28

30

32

34

54.4%54.6%54.8%55.0%55.2%55.4%55.6%55.8%56.0%

82%

84%

86%

88%

90%

92%

94%

8


Maintenance & Restrictions

Units Latest Prev. Week W/W % Prev. Month M/M % Prev. Year Y/Y %

Steel Mill % 85.34 84.60 0.7% 84.62 0.7% 85.25 0.1%

Blast Furnace % 77.76 77.07 0.7% 76.93 0.8% 79.42 -1.7%

Maintenance* m³ 110,964 116,574 -4.8% 116,364 -4.6% 111,623 -0.6%

10,000t/d 32.52 33.97 -4.3% 34.03 -4.4% 30.20 7.7%

10,000t/d 46.27 46.31 -0.1% 48.56 -4.7% 49.53 -6.6%

# 78 79 -1.3% 80 -2.5% 68 14.7%

% 83.44 83.44 0.0% 84.05 -0.6% 68.71 14.7%

*Nationwide 163 sample mills blast furnace survey; accounting for 80% of crude steel output in 2012

Hebei % 80.63 79.68 0.9% 78.73 1.9% 85.40 -4.8%

Blast Furnace m³ 36,885 39,285 -6.1% 42,825 -13.9% 31,060 18.8%

Survey* 10,000t/d 11.60 12.23 -5.2% 13.27 -12.6% 9.14 26.9%

10,000t/d 15.33 15.60 -1.7% 16.45 -6.8% 14.42 6.3%

# 37 37 0.0% 40 -7.5% 29 27.6%

% 79.45 79.45 0.0% 80.82 -1.4% 78.08 1.4%

*Provincial 72 sample mills blast furnace survey

Blast Furnace % 11.62 11.65 0.0% 11.85 -0.2% 12.27 -0.7%

Iron Burden % 12.84 12.87 0.0% 13.02 -0.2% 11.82 1.0%

Ratio* % 75.54 75.48 0.1% 75.13 0.4% 75.91 -0.4%

RMB/t 1,840 1,848 -0.4% 1,917 -4.0% 1,292 42.4%

*Provincial 64 sample mills blast furnace survey, **excl. VAT Data Updated: 07/07/2017

Profitable Steel Mills

Lump Burden Ratio

Pellet Burden Ratio

Sinter Burden Ratio

Molten Iron/Hot Metal Production Cost**

Number of Mills Under BF Maintenance

BF Operating Rate

BF Maintenance Volume

Molten Iron Output Reduced due to BF Maintenance

Reduced Output due to BF Maintenance and Restrictions

Number of Mills Under BF Maintenance

Mysteel Survey

BF Utilization Rate

BF Operating Rate

BF Maintenance Volume

Molten Iron Output Reduced due to BF Maintenance

Reduced Output due to BF Maintenance and Restrictions

Profitable Steel Mills

BF Size (m³) Fengnan Fengrun Yutian Guye Kaiping Qianxi Qian’an Luanxian Leting Total

Tangshan 450 4 1 1 - 2 - 10 3 - 21

Blast Furnace 480 - - - - - - 2 - - 2

Maintenance* 500 - - 1 - - - - - - 1

520 - - - - - - - - - -

580 1 - - - - - 1 - - 2

600 2 - - - - - - - - 2

660 - - - - - - - - - -

680 - - - - - - - - - -

1080 - - - - - - 1 2 - 3

1280 - - - - - - - - - -

1350 - - - - - - - - - -

1580 - - - - - - - - - -

1780 - - - - - - - - 1 1

Quantity # 7 1 2 - 2 - 14 5 1 32

Volume m³ 3,580 450 950 - 900 - 7,120 3,510 1,780 18,290

*Provincial 164 sample mills blast furnace survey Data Updated: 07/07/2017

Liaoning province demolishes 66 enterprises producing substandard steel products

Liaoning province has demolished 66 enterprises which produce steel products below government stand-ards, according to local newswires. Mysteel understands that Liaoning province achieved the objective of eliminating “unlabeled” steel capacity to schedule. Elsewhere, Tangshan, the city with the greatest concen-tration of iron and steel capacity, faces great pressure on the task of eliminating excess iron, coal and steel capacity. Tangshan city must cut 10.06Mt of steelmaking, 5.7Mt of ironmaking, 1.5Mt of thermal coal and 3.6Mt of coking coal capacity in 2017. Mysteel believes that Tangshan city has shut down or demolished 7 converters and 6 blast furnaces, with a capacity of 4.67Mt steelmaking and 3.81Mt ironmaking up to 29th June 2017. Therefore, Tangshan city has completed just over half of its annual de-capacity targets.

Elsewhere, Jiangxi Provincial Standing Committee executive vice governor, Mao Weiming, presided over a meeting on 6th July 2017 on the topic of tackling de-capacity of the provinces coal sector. Executive vice governor Mao Weiming pointed noted that the provincial government has closed down 232 coal mines with 15.47Mt coal capacity in 2016, while it plans to shut down 52 coal mines with approximately 2.79Mt of capacity in 2017. Mao Weiming directed the committee to focus on meeting de-capacity targets and also resettlement of 5,000 affected workers to ensure social harmony and stability. At the same time, the Pro-vincial Standing Committee also committed to strict ongoing supervision to prevent any closed coal mines from restarting.

9


Iron Ore Shipments

Mysteel Survey Units Latest Prev. Week W/W % Prev. Month M/M % Prev. Year Y/Y %

Iron Ore Arrived Vessels # 7 7 0.0% 13 -46.2% 15 -53.3%

Arrivals at Arrived Vessels # 14 13 7.7% 18 -22.2% 10 40.0%

Six Main Arrived Vessels # 4 9 -55.6% 17 -76.5% 10 -60.0%

N. China Ports Arrived Vessels # 8 19 -57.9% 3 166.7% 16 -50.0%

Arrived Vessels # 17 21 -19.0% 5 240.0% 15 13.3%

Arrived Vessels # 14 19 -26.3% 5 180.0% 18 -22.2%

Quantity of Arrivals Mt 1.54 1.32 16.4% 1.97 -22.0% 2.13 -28.0%

Quantity of Arrivals Mt 1.81 2.10 -13.8% 2.70 -33.0% 1.72 5.6%

Quantity of Arrivals Mt 0.54 1.20 -55.2% 2.66 -79.7% 1.73 -68.8%

Quantity of Arrivals Mt 1.32 1.96 -32.9% 0.40 232.3% 2.20 -40.1%



Est. Arrival of Vessels # 7 7 0.0% 12 -41.7% 13 -46.2%

Est. Arrival of Vessels # 1 8 -87.5% 4 -75.0% 6 -83.3%

Est. Arrival of Vessels # 9 4 125.0% 15 -40.0% 13 -30.8%

Est. Arrival of Vessels # 12 6 100.0% 2 500.0% 10 20.0%

Est. Arrival of Vessels # 19 13 46.2% 5 280.0% 7 171.4%

Est. Arrival of Vessels # 5 6 -16.7% 4 25.0% 9 -44.4%

Quantity of Est. Arrival Mt 1.38 1.38 0.4% 2.03 -31.8% 2.04 -32.4%

Quantity of Est. Arrival Mt 0.08 1.07 -92.5% 0.60 -86.6% 0.93 -91.4%

Quantity of Est. Arrival Mt 1.68 0.62 172.3% 2.18 -22.7% 2.03 -17.3%

Quantity of Est. Arrival Mt 1.95 0.93 110.4% 0.29 565.5% 1.58 23.6%

Quantity of Est. Arrival Mt 2.62 2.05 28.2% 0.51 414.5% 0.82 221.2%

Quantity of Est. Arrival Mt 0.89 0.93 -3.9% 0.64 40.1% 1.30 -31.7%


Caofeidian

Jingtang

Qingdao

Rizhao

Lianyungang

Tianjin

Caofeidian

Jingtang

Jingtang

Qingdao

Rizhao

Lianyungang

Tianjin

Caofeidian

Jingtang

Ports

Qingdao

Rizhao

Lianyungang

Tianjin

Caofeidian

Qingdao

Rizhao

Lianyungang

Tianjin

Death at Rio Tinto’s Yandicoogina mine in West Australia

A mine worker died at Rio Tinto’s Yandicoogina mine in the Pilbara region of West Australia on Tuesday 4th July 2017. This incident was reported to police around midday. Police have confirmed that the man, believed to be in his early 50s, died after what Rio Tinto described as a “serious incident”. Police and the department of mines and petroleum have been investigating the incident. “The company will provide all the necessary support for the employee’s family and colleagues during this difficult time.” Rio said in a state-ment released that afternoon, but the company could not release further information about this accident.

Rio Tinto’s Yandicoogina mine is located in the area that produces its Yandi fines product, which is located about 100 kilometers north-west of Newman. Average shipment volumes in the first five month totaled about 4.33Mt, of which 1.29Mt was delivered to China under long-term supply agreements, according to Mysteel’s bespoke weekly iron ore shipments statistics. In fact, Rio Tinto experienced a similar accident in June 2016 whereby an accident resulted in a mine shut down for around 3 days; partially impacting produc-tion volumes.

10


Mysteel Survey Units Latest Prev. Week W/W % Prev. Month M/M % Prev. Year Y/Y %

Dispatched Vessels Sailed # 9 12 -25.0% 11 -18.2% 9 0.0%

Iron Ore Vessels Sailed # 4 4 0.0% 4 0.0% 5 -20.0%

from Main Vessels Sailed # 2 3 -33.3% 3 -33.3% 4 -50.0%

Brazilian Vessels Sailed # 16 11 45.5% 12 33.3% 9 77.8%

Ports Vessels Sailed # 2 3 -33.3% 2 0.0% 3 -33.3%

Vessels Sailed # 2 1 100.0% 1 100.0% 1 100.0%

Vessels Sailed # 1 1 0.0% 2 -50.0% 1 0.0%

Total Shipments Mt 1.73 2.08 -16.9% 1.57 9.9% 1.82 -4.9%

Total Shipments Mt 0.77 0.87 -11.5% 0.87 -11.5% 0.90 -13.9%


Total Shipments Mt 3.63 2.42 49.9% 2.73 33.0% 1.97 83.6%




Est. Dispatch of Vessels # 10 10 0.0% 9 11.1% 8 25.0%

Est. Dispatch of Vessels # 5 6 -16.7% 4 25.0% 3 66.7%

Est. Dispatch of Vessels # 1 2 -50.0% 1 0.0% 2 -50.0%

Est. Dispatch of Vessels # 12 16 -25.0% 13 -7.7% 12 0.0%

Est. Dispatch of Vessels # 2 3 -33.3% 3 -33.3% 5 -60.0%

Est. Dispatch of Vessels # 1 2 -50.0% 2 -50.0% 6 -83.3%

Est. Dispatch of Vessels # 2 2 0.0% 1 100.0% - #DIV/0!

Quantity of Est. Dispatch Mt 1.84 1.92 -4.0% 1.93 -4.8% 1.49 23.5%

Quantity of Est. Dispatch Mt 0.94 1.20 -21.7% 0.88 7.3% 0.52 80.9%

Quantity of Est. Dispatch Mt 0.17 0.36 -53.3% 0.14 23.2% 0.34 -49.5%


Quantity of Est. Dispatch Mt 0.37 0.58 -35.1% 0.53 -29.0% 0.84 -55.3%

Quantity of Est. Dispatch Mt 0.18 0.34 -47.8% 0.36 -50.7% 0.97 -81.9%

Quantity of Est. Dispatch Mt 0.25 0.33 -25.3% 0.17 47.6% - #DIV/0!

Dispatched Vessels Sailed # 14 16 -12.5% 11 27.3% 15 -6.7%

Iron Ore Vessels Sailed # 24 21 14.3% 19 26.3% 20 20.0%

from Main Vessels Sailed # 53 51 3.9% 56 -5.4% 44 20.5%

Australian Vessels Sailed # 1 2 -50.0% 1 0.0% 1 0.0%

Ports Vessels Sailed # 1 1 0.0% 1 0.0% - #DIV/0!

Vessels Sailed # 3 4 -25.0% 3 0.0% 3 0.0%



Total Shipments Mt 9.72 9.45 2.9% 10.63 -8.6% 8.07 20.5%

Total Shipments Mt 0.18 0.32 -43.7% 0.18 1.1% 0.16 11.3%

Total Shipments Mt 0.06 0.06 0.0% 0.06 0.0% - #DIV/0!

Total Shipments Mt 0.18 0.24 -25.0% 0.18 0.0% 0.18 0.0%

Shipments to China Mt 2.41 2.36 2.3% 1.74 39.1% 1.84 31.2%

Shipments to China Mt 3.12 2.49 25.3% 1.60 94.3% 2.99 4.1%

Shipments to China Mt 8.82 8.39 5.1% 9.24 -4.5% 6.92 27.5%

Shipments to China Mt - 0.17 0.0% 0.18 0.0% 0.16 0.0%

Shipments to China Mt 0.06 0.06 0.0% 0.06 0.0% - #DIV/0!

Shipments to China Mt 0.12 0.24 -50.0% 0.18 -33.3% 0.18 -33.3%

Est. Dispatch of Vessels # 14 15 -6.7% 13 7.7% 15 -6.7%

Est. Dispatch of Vessels # 25 26 -3.8% 24 4.2% 18 38.9%

Est. Dispatch of Vessels # 45 50 -10.0% 51 -11.8% 39 15.4%

Est. Dispatch of Vessels # 1 1 0.0% 1 0.0% - #DIV/0!

Est. Dispatch of Vessels # 2 1 100.0% - #DIV/0! 2 0.0%

Est. Dispatch of Vessels # 3 3 0.0% - #DIV/0! 1 200.0%

Quantity of Est. Dispatch Mt 2.38 2.59 -8.1% 2.21 7.7% 2.55 -6.7%

Quantity of Est. Dispatch Mt 4.43 4.49 -1.2% 4.08 8.7% 3.10 43.0%


Quantity of Est. Dispatch Mt 0.18 0.16 10.0% 0.18 0.0% - #DIV/0!

Quantity of Est. Dispatch Mt 0.12 0.06 100.0% - #DIV/0! 0.12 0.0%

Quantity of Est. Dispatch Mt 0.18 0.18 0.0% - #DIV/0! 0.06 200.0%


Esperance

Geraldton

Guaiba Island Terminal

Porto Sudeste

Ferroport Terminal


CPBS

Ponta da Madeira

CSN Terminal

Ferroport Terminal

Geraldton-Karara

Porto Sudeste

Dampier

Walcott

Hedland

Ports

Tubarao

Porto Sudeste

Ferroport Terminal

CSN Terminal

Ponta da Madeira

CPBS


Tubarao

Tubarao

CSN Terminal

Ponta da Madeira

CPBS

Porto Sudeste

Ferroport Terminal

CSN Terminal

Ponta da Madeira

CPBS


Dampier

Walcott

Dampier

Geraldton-Karara

Geraldton

Esperance

Hedland

Hedland

Walcott

Tubarao

Walcott

Hedland

Esperance

Dampier

Geraldton-Karara

Geraldton

Esperance

Geraldton

Geraldton-Karara

Walcott

Hedland

Esperance

Geraldton

Geraldton-Karara

Dampier

Iron Ore Shipments

11


Units Latest Prev. P/P % Prev. Month M/M % Prev. Year Y/Y %

Nationwide* 10,000tpd 42.50 42.93 -1.0% 43.90 -3.2% 40.70 4.4%

% 65.80 66.50 -0.7% 68.00 -2.2% 63.20 2.6%

>1Mtpy* 10,000tpd 7.20 7.28 -1.1% 7.33 -1.8% 7.00 2.9%

% 59.00 59.80 -0.8% 60.20 -1.2% 57.10 1.9%

10,000tpd 36.00 42.00 -14.3% 46.00 -21.7% 56.00 -35.7%

# 19.00 19.00 - 19.00 - 19.00 -

0.3-1Mtpy* 10,000tpd 1.30 1.21 7.4% 1.26 3.2% 0.70 85.7%

% 26.60 24.70 1.9% 25.70 0.9% 14.50 12.1%

10,000tpd 23.00 20.00 15.0% 18.00 27.8% 18.00 27.8%

# 28.00 28.00 - 28.00 - 28.00 -

<0.3Mtpy* 10,000tpd 0.20 0.21 -4.8% 0.21 -4.8% 0.10 100.0%

% 16.50 20.30 -3.8% 20.30 -3.8% 12.90 3.6%

10,000tpd 15.00 16.00 -6.3% 16.00 -6.3% 19.00 -21.1%

# 23.00 23.00 - 23.00 - 23.00 -

*266 mines in total; annual concentrate capacity of 228Mt, accounting for 51.8% of domestic concentrate output capacity in 2014.

Nationwide** 10,000tpd 8.65 8.70 -0.6% 8.80 -1.7% 7.80 10.9%

% 47.80 48.10 -0.3% 48.60 -0.8% 43.10 4.7%

10,000tpd 74.00 77.00 -3.9% 80.00 -7.5% 93.00 -20.4%

# 70.00 70.00 - 70.00 - 70.00 -

NE China** 10,000tpd 0.77 0.81 -4.9% 0.81 -4.9% 0.70 10.0%

% 44.30 46.60 -2.3% 46.60 -2.3% 42.80 1.5%

10,000tpd 19.00 21.00 -9.5% 22.00 -13.6% 35.00 -45.7%

# 14.00 14.00 - 14.00 - 14.00 -

Hebei** 10,000tpd 5.01 5.00 0.2% 5.00 0.2% 4.80 4.4%

% 57.90 57.70 0.2% 57.70 0.2% 55.80 2.1%

10,000tpd 4.00 4.00 0.0% 8.00 -50.0% 35.00 -88.6%

# 25.00 25.00 - 25.00 - 25.00 -

N. China** 10,000tpd 0.87 0.79 10.1% 0.79 10.1% 0.60 45.0%

% 31.80 28.80 3.0% 28.80 3.0% 21.20 10.6%

10,000tpd 23.00 23.00 0.0% 22.00 4.5% 16.00 43.8%

# 15.00 15.00 - 15.00 - 15.00 -

E. China** 10,000tpd 1.36 1.46 -6.8% 1.56 -12.8% 1.20 13.3%

% 60.20 64.60 -4.4% 69.00 -8.8% 54.90 5.3%

10,000tpd 15.00 18.00 -16.7% 19.00 -21.1% 7.00 114.3%

# 6.00 6.00 - 6.00 - 6.00 -

S. China** 10,000tpd 0.64 0.64 0.0% 0.64 0.0% 0.40 60.0%

% 23.70 23.70 0.0% 23.70 0.0% 14.80 8.9%

10,000tpd 13.00 11.00 18.2% 9.00 44.4% 1.00 1200.0%

# 10.00 10.00 - 10.00 - 10.00 -

**70 mines in total (excluding steel mills` affiliated mining companies), annual concentrate capacity of 62Mtpy, accounting for 18% of domestic concentrate output in 2014.


Mysteel Survey

Total Output

Utilization Rate

Total Output

Utilization Rate

Total Stockpile

Total Stockpile

Number of Mines

Total Output

Utilization Rate

Number of Mines

Total Output

Total Output

Total Stockpile

Number of Mines

Total Output

Utilization Rate

Total Stockpile

Number of Mines

Utilization Rate

Total Stockpile

Number of Mines

Total Output

Utilization Rate

Total Stockpile

Number of Mines

Total Output

Utilization Rate

Total Stockpile

Number of Mines

Total Output

Utilization Rate

Total Stockpile

Number of Mines

Utilization Rate

Total Stockpile

Number of Mines

Total Output

Utilization Rate

Domestic Mine Operation

12


Inventories Overview

Units Latest Prev. P/P % Prev. Month M/M % Prev. Year Y/Y %

Iron Ore Mt 1.66 1.49 11.4% 1.71 -2.9% 4.20 -60.5%

Inventories* Mt 10.78 10.45 3.2% 9.66 11.6% 5.70 89.1%

Mt 15.22 14.71 3.5% 14.09 8.0% 13.52 12.6%

Mt 114.63 117.48 -2.4% 118.65 -3.4% 83.15 37.9%

Mt 142.29 144.13 -1.3% 144.11 -1.3% 106.57 33.5%

Mt 75.15 76.32 -1.5% 75.07 0.1% 58.71 28.0%

Mt 31.29 31.42 -0.4% 31.98 -2.2% 22.14 41.3%

*45 Sampled Ports in China

Coking Coal Mt 3.23 2.93 10.4% 2.78 16.3% 1.96 64.9%

and Coke Mt - - 0.0% 5.22 0.0% 5.61 0.0%

Inventories Mt 6.53 6.50 0.4% 6.33 3.1% 5.97 9.4%

Mt 6.49 6.58 -1.4% 7.18 -9.7% 7.79 -16.7%

Days 12.92 13.10 -1.4% 14.30 -9.7% 15.79 -18.2%

Mt - 1.95 0.0% 2.14 0.0% 1.97 0.0%

Mt 0.94 0.96 -2.1% 1.00 -6.0% 1.91 -50.8%

Mt 4.34 4.39 -1.1% 4.03 7.6% 3.52 23.2%

Days 12.36 12.49 -1.0% 11.46 7.9% 10.54 17.3%

*110 Sampled Steel Mills

Steel Mill Days 25 22 13.6% 23 8.7% 24 4.2%

Iron Ore Mt 0.72 0.74 -2.9% 0.80 -9.3% 0.68 6.9%

Inventories Mt 0.09 0.09 -5.8% 0.09 -5.9% 0.07 19.5%

Steel Mt 3.90 3.88 0.6% 3.90 0.1% 3.67 6.4%

Products Mt 1.13 1.14 -0.8% 1.25 -9.2% 1.04 8.7%

Inventories Mt 2.26 2.37 -4.8% 2.73 -17.4% 1.81 24.5%

Mt 1.00 1.01 -0.8% 1.11 -9.5% 0.87 14.5%

Mt 1.10 1.12 -2.0% 1.15 -4.0% 1.23 -10.2%

Data Updated: 07/07/2017CRC

Domestic Sinter Feed Concentrate Stock

Domestic Sinter Feed Concentrate Total Consumption

Rebar

Wire Rod

HRC

Medium Plate

Average Days of Coking Plant Coal Consumption*

PCI Stocks at 50 Sampled Steel Mills

Tianjin Coke Port Stocks

Steel Mill Coke Inventories*

Average Days of Mill Coke Consumption*

Average Mill Iron Ore Inventories

Australian Iron Ore

Brazilian Iron Ore

Imported Coking Coal at Chinese Ports

Coking Coal Stocks at 50 Sampled Steel Mills

Independent Coking Coal Stocks 100 Samples

Coking Plant Coal Inventories*

Mysteel Survey

Pellet

Concentrate

Lump

Fines

Total Port Stocks

Slower arrivals and robust daily offtakes result in declining Chinese iron ore inventories

Slower arrivals of overseas iron ore shipments partly resulted in a modest decline in major Chinese port stocks over the past week, particularly at the Caofeidian and Fangcheng ports. Mysteel also recorded a noticeable decline in iron ore inventories at the major Chinse ports of Lanshan and Qingdao, which had been closed to navigation due to the onset of heavy fog. Unsurprisingly, major iron ore inventories have decreased 1.84Mt or 1.3% week-on-week to 142.29Mt on Friday 7th July 2017.

At the same time, Mysteel recorded an increase in daily iron ore offtakes due to robust demand from local mills. For example, we understand some mills in northern China have resumed output following the conclu-sion of regular maintenance programmes. As a result, daily iron ore offtakes increased 2.7% week-on-week to 2.912Mt across the 45 major ports that Mysteel surveys in the week end 7th July 2017. Unsurprisingly, Mysteel’s national blast furnace capacity utilization survey showed rates increased 0.76% to 85.34% over the same period.

13


Mysteel Survey Units Latest Prev. Week W/W % Prev. Month M/M % Prev. Year Y/Y % Capacity

Qingdao Days - - 0.0% - 0.0% - 0.0% 3,000

Rizhao Days 4.50 2.00 125.0% - #DIV/0! 3.50 28.6% 1,800

Caofeidian Days 2.00 2.00 0.0% 4.00 -50.0% - #DIV/0! 2,040

Jingtang Days 4.00 4.00 0.0% 4.00 0.0% 1.00 300.0% 1,600

Lianyungang Days - - 0.0% - 0.0% 1.50 0.0% 800

Tianjin Days - - 0.0% - 0.0% - 0.0% 1,200

Lanshan Days 2.00 - #DIV/0! - #DIV/0! 2.00 0.0% 650

Fangchenggang Days - - 0.0% - 0.0% - 0.0% 1,300

Zhenjiang Days - - 0.0% - 0.0% - 0.0% 500

Dalian Days - - 0.0% - 0.0% - 0.0% 550

Yantai Days - - 0.0% - 0.0% - 0.0% 350

Beilun Days 2.00 - #DIV/0! - #DIV/0! - #DIV/0! 500

Bayuquan Days - - 0.0% 3.00 0.0% - 0.0% 400

Taicang Days - - 0.0% - 0.0% - 0.0% 300

Nantong Days 2.00 2.00 0.0% - #DIV/0! 2.00 0.0% 260

Rugao Days - - 0.0% - 0.0% - 0.0% 350

Zhanjiang Days - - 0.0% - 0.0% - 0.0% 650

Luojing Days - - 0.0% 3.00 0.0% - 0.0% 220

Nanjing Days - - 0.0% - 0.0% - 0.0% 200

Jiangyin Days - - 0.0% - 0.0% 6.00 0.0% 200

Xiamen Days - - 0.0% - 0.0% 50.00 0.0% 150

Fuzhou Days - - 0.0% - 0.0% - 0.0% 280

Zhangjiagang Days 1.00 - #DIV/0! - #DIV/0! - #DIV/0! 100

Qinhuangdao Days - - 0.0% - 0.0% - 0.0% 400

Quanzhou Days - - 0.0% - 0.0% - 0.0% 150

Qinzhou Days - - 0.0% - 0.0% - 0.0% 180

Changzhou Days - - 0.0% - 0.0% - 0.0% 180

Dandong Days - - 0.0% - 0.0% - 0.0% 300

Mawan Days - - 0.0% - 0.0% - 0.0% 75

Longkou Days - - 0.0% - 0.0% - 0.0% 400

Guangzhou Days - - 0.0% - 0.0% - 0.0% 215

Original Standard Days - - - - - - - -

Gaolan Days - - 0.0% - 0.0% - 0.0% 100

Shekou Days - - 0.0% - 0.0% - 0.0% 50

Taizhou Days - - 0.0% - 0.0% - 0.0% 200

Majishan Days - - 0.0% - 0.0% - 0.0% 350

Jinzhou Days - - 0.0% - 0.0% - 0.0% 100

Yangzhou Days - - 0.0% - 0.0% - 0.0% 200

Huanghua Days 3.00 3.00 0.0% 3.00 0.0% - #DIV/0! 300

Zhoushanwu Days - - 0.0% - 0.0% - 0.0% 90

Weifang Days - - 0.0% - 0.0% - 0.0% 40

Laizhou Days - - 0.0% - 0.0% - 0.0% 40

41 Ports Total Days - - - - - - - -

Lanqiao Days - - 0.0% - 0.0% - 0.0% 500

Meijin Days - - 0.0% - 0.0% - 0.0% 100

Putian Days - - 0.0% - 0.0% - 0.0% 50

Maweigang Days - - 0.0% - 0.0% - 0.0% 30

45 Ports Total Days - - - - - - - -


Port Congestion

14



Qingdao 10,000t 761 768 -0.9% 780 -2.4% 542 40.4% 3,000

Rizhao 10,000t 716 718 -0.3% 730 -1.9% 594 20.5% 1,800

Caofeidian 10,000t 973 1,005 -3.2% 977 -0.4% 1,024 -5.0% 2,040

Jingtang 10,000t 1,033 1,040 -0.7% 894 15.5% 793 30.3% 1,600

Lianyungang 10,000t 399 410 -2.7% 405 -1.5% 324 23.1% 800

Tianjin 10,000t 529 512 3.3% 600 -11.8% 490 8.0% 1,200

Lanshan 10,000t 415 419 -1.0% 421 -1.4% 358 15.9% 650

Fangchenggang 10,000t 133 146 -8.9% 170 -21.8% 30 343.3% 1,300

Zhenjiang 10,000t 189 185 2.2% 149 26.8% 108 75.0% 500

Dalian 10,000t 118 120 -1.7% 110 7.3% 46 156.5% 550

Yantai 10,000t 17 12 41.7% 28 -39.3% 42 -59.5% 350

Beilun 10,000t 353 345 2.3% 324 9.0% 261 35.2% 500

Bayuquan 10,000t 259 268 -3.4% 261 -0.8% 102 153.9% 400

Taicang 10,000t 193 184 4.9% 148 30.4% 167 15.6% 300

Nantong 10,000t 43 67 -35.8% 83 -48.2% 95 -54.7% 260

Rugao 10,000t 24 22 9.1% 21 14.3% 37 -35.1% 350

Zhanjiang 10,000t 11 25 -55.6% 42 -73.1% 62 -81.8% 650

Luojing 10,000t 120 115 4.3% 110 9.1% 45 166.7% 220

Nanjing 10,000t 6 7 -15.4% 22 -75.0% 15 -63.3% 200

Jiangyin 10,000t 274 289 -5.1% 255 7.6% 102 168.9% 200

Xiamen 10,000t 53 41 29.0% 34 55.9% 3 1666.7% 150

Fuzhou 10,000t 60 62 -3.2% 65 -7.7% 52 15.4% 280

Zhangjiagang 10,000t 32 38 -15.8% 58 -44.8% 23 39.1% 100

Qinhuangdao 10,000t 38 44 -12.8% 24 58.3% 32 18.8% 400

Quanzhou 10,000t 2 3 -23.3% - #DIV/0! 11 -79.1% 150

Qinzhou 10,000t - - 0.0% - 0.0% - 0.0% 180

Changzhou 10,000t 31 31 0.0% 20 55.0% 24 29.2% 180

Dandong 10,000t 86 95 -9.5% 94 -8.5% 35 145.7% 300

Mawan 10,000t - - 0.0% - 0.0% - 0.0% 75

Longkou 10,000t 3 3 0.0% 3 -16.7% 10 -75.0% 400

Guangzhou 10,000t 16 14 14.3% 17 -5.9% 12 33.3% 215

Original Standard 10,000t 6,887 6,987 -1.4% 6,846 0.6% 5,486 25.5% -

Gaolan 10,000t 6 6 0.0% 6 0.0% 6 0.0% 100

Shekou 10,000t - - 0.0% - 0.0% - 0.0% 50

Taizhou 10,000t 6 6 0.0% 1 500.0% 1 500.0% 200

Majishan 10,000t 128 130 -1.5% 156 -17.9% 149 -14.1% 350

Jinzhou 10,000t 31 31 0.0% 41 -24.4% 12 158.3% 100

Yangzhou 10,000t 2 3 -40.0% 5 -70.0% 7 -78.6% 200

Huanghua 10,000t 168 147 14.3% 163 3.1% 40 320.0% 300

Zhoushanwu 10,000t 69 71 -3.1% 75 -8.0% 56 23.2% 90

Weifang 10,000t 16 19 -16.7% 8 100.0% 5 220.0% 40

Laizhou 10,000t - - 0.0% - 0.0% 2 0.0% 40

41 Ports Total 10,000t 7,312 7,400 -1.2% 7,301 0.2% 5,763 26.9% -

Lanqiao 10,000t 152 181 -16.0% 156 -2.6% 71 114.1% 500

Meijin 10,000t 41 41 0.0% 41 0.0% 19 115.8% 100

Putian 10,000t 10 10 0.0% 10 0.0% 10 0.0% 50

Maweigang 10,000t - - 0.0% - 0.0% 8 0.0% 30

45 Ports Total 10,000t 7,515 7,632 -1.5% 7,507 0.1% 5,871 28.0% -


Inventories of Australian Ore

15



Qingdao 10,000t 624 629 -0.8% 620 0.6% 312 100.0% 3,000

Rizhao 10,000t 336 312 7.7% 336 0.0% 143 135.0% 1,800

Caofeidian 10,000t 556 580 -4.1% 540 3.0% 306 81.7% 2,040

Jingtang 10,000t 108 108 0.0% 96 12.5% 9 1100.0% 1,600

Lianyungang 10,000t 221 208 6.3% 202 9.4% 212 4.2% 800

Tianjin 10,000t 55 49 12.2% 70 -21.4% 36 52.8% 1,200

Lanshan 10,000t 66 71 -7.0% 78 -15.4% 30 120.0% 650

Fangchenggang 10,000t 124 131 -5.3% 155 -20.0% 319 -61.1% 1,300

Zhenjiang 10,000t 14 17 -20.6% 30 -55.0% 35 -61.4% 500

Dalian 10,000t 252 250 0.8% 215 17.2% 156 61.5% 550

Yantai 10,000t 116 112 3.6% 139 -16.5% 124 -6.5% 350

Beilun 10,000t 52 45 15.6% 43 20.9% 70 -25.7% 500

Bayuquan 10,000t 25 29 -13.8% 29 -13.8% 21 19.0% 400

Taicang 10,000t 29 41 -29.3% 35 -17.1% 22 31.8% 300

Nantong 10,000t 31 17 82.4% 19 63.2% 28 10.7% 260

Rugao 10,000t 4 4 0.0% 4 0.0% 8 -50.0% 350

Zhanjiang 10,000t 154 168 -8.6% 179 -14.0% 124 24.2% 650

Luojing 10,000t 3 6 -50.0% 20 -85.0% 7 -57.1% 220

Nanjing 10,000t 9 9 -2.2% 11 -18.2% 1 800.0% 200

Jiangyin 10,000t 107 100 6.8% 140 -23.4% 61 75.7% 200

Xiamen 10,000t 4 6 -35.5% - #DIV/0! - #DIV/0! 150

Fuzhou 10,000t 38 40 -5.0% 35 8.6% 20 90.0% 280

Zhangjiagang 10,000t 14 17 -17.6% 20 -30.0% 23 -39.1% 100

Qinhuangdao 10,000t - - 0.0% - 0.0% - 0.0% 400

Quanzhou 10,000t - - 0.0% - 0.0% - 0.0% 150

Qinzhou 10,000t - - 0.0% - 0.0% - 0.0% 180

Changzhou 10,000t 10 9 11.1% 9 11.1% 3 233.3% 180

Dandong 10,000t 2 5 -60.0% - #DIV/0! 7 -71.4% 300

Mawan 10,000t - - 0.0% - 0.0% - 0.0% 75

Longkou 10,000t 6 6 0.0% 9 -38.9% 7 -21.4% 400

Guangzhou 10,000t - - 0.0% - 0.0% - 0.0% 215

Original Standard 10,000t 2,959 2,970 -0.4% 3,033 -2.4% 2,086 41.9% -

Gaolan 10,000t 2 2 0.0% 2 0.0% 2 0.0% 100

Shekou 10,000t - - 0.0% - 0.0% - 0.0% 50

Taizhou 10,000t - - 0.0% - 0.0% - 0.0% 200

Majishan 10,000t 58 58 0.0% 54 7.4% 29 100.0% 350

Jinzhou 10,000t - 2 0.0% - 0.0% - 0.0% 100

Yangzhou 10,000t - - 0.0% - 0.0% - 0.0% 200

Huanghua 10,000t 31 31 0.0% 52 -40.4% 30 3.3% 300

Zhoushanwu 10,000t 22 44 -51.1% 23 -6.5% 19 13.2% 90

Weifang 10,000t - - 0.0% - 0.0% - 0.0% 40

Laizhou 10,000t - - 0.0% - 0.0% - 0.0% 40

41 Ports Total 10,000t 3,072 3,107 -1.1% 3,164 -2.9% 2,166 41.8% -

Lanqiao 10,000t 55 33 66.7% 32 71.9% 39 41.0% 500

Meijin 10,000t - - 0.0% - 0.0% 7 0.0% 100

Putian 10,000t 2 2 0.0% 2 0.0% 2 0.0% 50

Maweigang 10,000t - - 0.0% - 0.0% - 0.0% 30

45 Ports Total 10,000t 3,129 3,142 -0.4% 3,198 -2.2% 2,214 41.3% -


Inventories of Brazilian Ore

16



Qingdao 10,000t 30 30 0.0% 30 0.0% - #DIV/0! 3,000

Rizhao 10,000t 109 118 -7.6% 99 10.1% 89 22.5% 1,800

Caofeidian 10,000t 71 74 -4.3% 70 0.7% 28 151.8% 2,040

Jingtang 10,000t 72 75 -4.0% 83 -13.3% 46 56.5% 1,600

Lianyungang 10,000t 12 12 0.0% 18 -33.3% 15 -20.0% 800

Tianjin 10,000t 14 18 -22.2% 15 -6.7% 5 180.0% 1,200

Lanshan 10,000t 16 18 -11.1% 15 6.7% 9 77.8% 650

Fangchenggang 10,000t - - 0.0% - 0.0% - 0.0% 1,300

Zhenjiang 10,000t - - 0.0% - 0.0% - 0.0% 500

Dalian 10,000t - - 0.0% - 0.0% - 0.0% 550

Yantai 10,000t - - 0.0% - 0.0% - 0.0% 350

Beilun 10,000t - - 0.0% - 0.0% - 0.0% 500

Bayuquan 10,000t 16 20 -20.0% 23 -30.4% 5 220.0% 400

Taicang 10,000t - - 0.0% - 0.0% - 0.0% 300

Nantong 10,000t 1 - #DIV/0! - #DIV/0! - #DIV/0! 260

Rugao 10,000t - - 0.0% - 0.0% - 0.0% 350

Zhanjiang 10,000t - - 0.0% - 0.0% - 0.0% 650

Luojing 10,000t - - 0.0% - 0.0% - 0.0% 220

Nanjing 10,000t - - 0.0% - 0.0% - 0.0% 200

Jiangyin 10,000t - - 0.0% - 0.0% 3 0.0% 200

Xiamen 10,000t 5 6 -10.3% 7 -25.7% - #DIV/0! 150

Fuzhou 10,000t - - 0.0% - 0.0% - 0.0% 280

Zhangjiagang 10,000t - - 0.0% - 0.0% - 0.0% 100

Qinhuangdao 10,000t - - 0.0% - 0.0% - 0.0% 400

Quanzhou 10,000t - - 0.0% - 0.0% - 0.0% 150

Qinzhou 10,000t - - 0.0% - 0.0% - 0.0% 180

Changzhou 10,000t - - 0.0% - 0.0% - 0.0% 180

Dandong 10,000t - - 0.0% 10 0.0% - 0.0% 300

Mawan 10,000t - - 0.0% - 0.0% - 0.0% 75

Longkou 10,000t 1 1 0.0% 2 -50.0% - #DIV/0! 400

Guangzhou 10,000t - - 0.0% - 0.0% - 0.0% 215

Original Standard 10,000t 347 372 -6.7% 372 -6.8% 200 73.4% -

Gaolan 10,000t - - 0.0% - 0.0% - 0.0% 100

Shekou 10,000t - - 0.0% - 0.0% - 0.0% 50

Taizhou 10,000t - - 0.0% - 0.0% - 0.0% 200

Majishan 10,000t - - 0.0% - 0.0% - 0.0% 350

Jinzhou 10,000t 2 4 -50.0% 6 -66.7% - #DIV/0! 100

Yangzhou 10,000t - - 0.0% - 0.0% - 0.0% 200

Huanghua 10,000t 31 35 -11.4% 52 -40.4% 16 93.8% 300

Zhoushanwu 10,000t - - 0.0% - 0.0% - 0.0% 90

Weifang 10,000t - - 0.0% - 0.0% - 0.0% 40

Laizhou 10,000t - - 0.0% - 0.0% - 0.0% 40

41 Ports Total 10,000t 380 411 -7.5% 430 -11.7% 216 75.8% -

Lanqiao 10,000t 9 9 0.0% 9 0.0% 3 200.0% 500

Meijin 10,000t - - 0.0% - 0.0% - 0.0% 100

Putian 10,000t - - 0.0% - 0.0% - 0.0% 50

Maweigang 10,000t - - 0.0% - 0.0% - 0.0% 30

45 Ports Total 10,000t 389 420 -7.3% 439 -11.5% 220 76.7% -


Inventories of Indian Ore

17



Qingdao 10,000t 510 530 -3.8% 550 -7.3% 284 79.6% 3,000

Rizhao 10,000t 645 632 2.1% 627 2.9% 521 23.8% 1,800

Caofeidian 10,000t 578 602 -4.0% 584 -1.0% 342 69.0% 2,040

Jingtang 10,000t 559 557 0.4% 523 6.9% 282 98.2% 1,600

Lianyungang 10,000t 311 293 6.1% 290 7.2% 265 17.4% 800

Tianjin 10,000t 370 350 5.7% 380 -2.6% 56 560.7% 1,200

Lanshan 10,000t 241 237 1.7% 205 17.6% 199 21.1% 650

Fangchenggang 10,000t 109 110 -0.9% 113 -3.5% 165 -33.9% 1,300

Zhenjiang 10,000t 256 241 6.2% 231 10.8% 180 42.2% 500

Dalian 10,000t 35 38 -7.9% 40 -12.5% 26 34.6% 550

Yantai 10,000t 30 30 0.0% 30 0.0% 55 -45.5% 350

Beilun 10,000t 97 100 -3.0% 100 -3.0% 80 21.3% 500

Bayuquan 10,000t 30 16 87.5% - #DIV/0! - #DIV/0! 400

Taicang 10,000t 60 65 -7.7% 60 0.0% 55 9.1% 300

Nantong 10,000t 19 10 90.0% 32 -40.6% 27 -29.6% 260

Rugao 10,000t 28 27 3.7% 25 12.0% 28 0.0% 350

Zhanjiang 10,000t 84 87 -3.4% 102 -17.6% 86 -2.3% 650

Luojing 10,000t 30 25 20.0% 45 -33.3% 20 50.0% 220

Nanjing 10,000t - - 0.0% - 0.0% - 0.0% 200

Jiangyin 10,000t 401 400 0.2% 395 1.5% 185 116.8% 200

Xiamen 10,000t - - 0.0% - 0.0% - 0.0% 150

Fuzhou 10,000t - - 0.0% - 0.0% - 0.0% 280

Zhangjiagang 10,000t 30 29 3.4% 34 -11.8% 15 100.0% 100

Qinhuangdao 10,000t - - 0.0% - 0.0% - 0.0% 400

Quanzhou 10,000t - - 0.0% - 0.0% - 0.0% 150

Qinzhou 10,000t 5 5 0.0% 5 2.0% 8 -36.3% 180

Changzhou 10,000t 13 10 30.0% 10 30.0% 13 0.0% 180

Dandong 10,000t - - 0.0% - 0.0% - 0.0% 300

Mawan 10,000t - - 0.0% - 0.0% - 0.0% 75

Longkou 10,000t 3 3 0.0% 3 0.0% 3 0.0% 400

Guangzhou 10,000t - - 0.0% - 0.0% - 0.0% 215

Original Standard 10,000t 4,444 4,397 1.1% 4,384 1.4% 2,896 53.5% -

Gaolan 10,000t - - 0.0% - 0.0% - 0.0% 100

Shekou 10,000t - - 0.0% - 0.0% - 0.0% 50

Taizhou 10,000t 12 12 0.0% 7 71.4% 15 -20.0% 200

Majishan 10,000t 36 38 -5.3% 38 -5.3% - #DIV/0! 350

Jinzhou 10,000t - - 0.0% - 0.0% - 0.0% 100

Yangzhou 10,000t - - 0.0% - 0.0% - 0.0% 200

Huanghua 10,000t 140 109 28.4% 90 55.6% 16 775.0% 300

Zhoushanwu 10,000t 36 24 52.5% 32 12.5% 56 -35.7% 90

Weifang 10,000t - - 0.0% - 0.0% - 0.0% 40

Laizhou 10,000t - - 0.0% - 0.0% - 0.0% 40

41 Ports Total 10,000t 4,668 4,580 1.9% 4,551 2.6% 2,983 56.5% -

Lanqiao 10,000t 228 246 -7.3% 230 -0.9% 103 121.4% 500

Meijin 10,000t - - 0.0% - 0.0% - 0.0% 100

Putian 10,000t - - 0.0% - 0.0% - 0.0% 50

Maweigang 10,000t - - 0.0% - 0.0% - 0.0% 30

45 Ports Total 10,000t 4,896 4,826 1.5% 4,781 2.4% 3,085 58.7% -


Trader’s Inventories

18



Qingdao 10,000t 145 145 0.0% 170 -14.7% 75 93.3% 3,000

Rizhao 10,000t 20 20 0.0% 10 100.0% 20 0.0% 1,800

Caofeidian 10,000t - - 0.0% - 0.0% - 0.0% 2,040

Jingtang 10,000t 6 6 0.0% 6 1.7% - #DIV/0! 1,600

Lianyungang 10,000t 130 125 4.0% 105 23.8% 112 16.1% 800

Tianjin 10,000t 20 20 0.0% 20 0.0% 20 0.0% 1,200

Lanshan 10,000t - - 0.0% - 0.0% - 0.0% 650

Fangchenggang 10,000t - - 0.0% - 0.0% - 0.0% 1,300

Zhenjiang 10,000t - - 0.0% - 0.0% - 0.0% 500

Dalian 10,000t 190 190 0.0% 148 28.4% 39 387.2% 550

Yantai 10,000t 25 25 0.0% 25 0.0% 30 -16.7% 350

Beilun 10,000t - - 0.0% - 0.0% - 0.0% 500

Bayuquan 10,000t - - 0.0% - 0.0% - 0.0% 400

Taicang 10,000t - - 0.0% - 0.0% - 0.0% 300

Nantong 10,000t - - 0.0% - 0.0% - 0.0% 260

Rugao 10,000t - - 0.0% - 0.0% - 0.0% 350

Zhanjiang 10,000t - - 0.0% - 0.0% - 0.0% 650

Luojing 10,000t - - 0.0% - 0.0% - 0.0% 220

Nanjing 10,000t - - 0.0% - 0.0% - 0.0% 200

Jiangyin 10,000t - - 0.0% - 0.0% - 0.0% 200

Xiamen 10,000t - - 0.0% - 0.0% 2 0.0% 150

Fuzhou 10,000t - - 0.0% - 0.0% - 0.0% 280

Zhangjiagang 10,000t - - 0.0% - 0.0% - 0.0% 100

Qinhuangdao 10,000t - - 0.0% - 0.0% - 0.0% 400

Quanzhou 10,000t - - 0.0% - 0.0% - 0.0% 150

Qinzhou 10,000t - - 0.0% - 0.0% - 0.0% 180

Changzhou 10,000t 5 5 0.0% - #DIV/0! - #DIV/0! 180

Dandong 10,000t - - 0.0% - 0.0% - 0.0% 300

Mawan 10,000t - - 0.0% - 0.0% - 0.0% 75

Longkou 10,000t - - 0.0% - 0.0% - 0.0% 400

Guangzhou 10,000t - - 0.0% - 0.0% - 0.0% 215

Original Standard 10,000t 541 536 0.9% 484 11.8% 296 82.8% -

Gaolan 10,000t - - 0.0% - 0.0% - 0.0% 100

Shekou 10,000t - - 0.0% - 0.0% - 0.0% 50

Taizhou 10,000t 5 5 0.0% - #DIV/0! - #DIV/0! 200

Majishan 10,000t - - 0.0% - 0.0% - 0.0% 350

Jinzhou 10,000t - - 0.0% - 0.0% - 0.0% 100

Yangzhou 10,000t - - 0.0% - 0.0% - 0.0% 200

Huanghua 10,000t - - 0.0% - 0.0% - 0.0% 300

Zhoushanwu 10,000t - - 0.0% - 0.0% - 0.0% 90

Weifang 10,000t - - 0.0% - 0.0% - 0.0% 40

Laizhou 10,000t - - 0.0% - 0.0% - 0.0% 40

41 Ports Total 10,000t 546 541 0.9% 484 12.8% 296 84.5% -

Lanqiao 10,000t - - 0.0% - 0.0% - 0.0% 500

Meijin 10,000t - - 0.0% - 0.0% - 0.0% 100

Putian 10,000t - - 0.0% - 0.0% - 0.0% 50

Maweigang 10,000t - - 0.0% - 0.0% - 0.0% 30

45 Ports Total 10,000t 546 541 0.9% 484 12.8% 296 84.5% -


Stocks in Bonded Areas

19



Qingdao 10,000t 32 33 -1.5% 30 6.7% 31 1.9% 3,000

Rizhao 10,000t 21 22 -3.2% 22 -3.2% 23 -5.3% 1,800

Caofeidian 10,000t 36 34 5.3% 35 1.7% 33 6.9% 2,040

Jingtang 10,000t 34 29 16.9% 31 10.1% 31 10.1% 1,600

Lianyungang 10,000t 14 11 26.4% 10 39.0% 12 15.8% 800

Tianjin 10,000t 23 21 7.1% 23 -2.2% 26 -11.8% 1,200

Lanshan 10,000t 11 11 0.9% 9 31.4% 8 41.3% 650

Fangchenggang 10,000t 7 8 -11.4% 8 -16.7% 3 133.3% 1,300

Zhenjiang 10,000t 4 4 5.0% 4 8.3% 2 80.5% 500

Dalian 10,000t 6 4 27.9% 4 57.1% 4 57.1% 550

Yantai 10,000t 4 4 0.0% 4 0.0% 4 0.0% 350

Beilun 10,000t 9 9 0.0% 10 -10.0% 11 -15.9% 500

Bayuquan 10,000t 9 9 2.4% 8 16.0% 5 74.0% 400

Taicang 10,000t 6 7 -15.4% 6 -8.3% 4 57.1% 300

Nantong 10,000t 4 6 -31.0% 4 -2.4% 2 135.3% 260

Rugao 10,000t 2 1 7.1% 1 7.1% 1 150.0% 350

Zhanjiang 10,000t 5 6 -11.7% 5 17.8% 5 -1.9% 650

Luojing 10,000t 10 10 1.5% 10 -3.8% 4 132.6% 220

Nanjing 10,000t 0 1 -72.1% 0 310.0% 0 105.0% 200

Jiangyin 10,000t 9 9 -2.2% 9 -2.2% 4 120.0% 200

Xiamen 10,000t 2 2 0.0% 2 0.0% 58 -96.6% 150

Fuzhou 10,000t 4 6 -35.7% 4 -16.3% 4 -16.3% 280

Zhangjiagang 10,000t 2 2 0.0% 3 -20.0% 2 25.0% 100

Qinhuangdao 10,000t 1 1 33.3% 0 166.7% 1 60.0% 400

Quanzhou 10,000t 0 0 0.0% - #DIV/0! 0 0.0% 150

Qinzhou 10,000t - - 0.0% - 0.0% - 0.0% 180

Changzhou 10,000t 1 2 -60.0% 0 100.0% - #DIV/0! 180

Dandong 10,000t 2 2 0.0% 2 0.0% 3 -25.9% 300

Mawan 10,000t - - 0.0% - 0.0% - 0.0% 75

Longkou 10,000t - - 0.0% - 0.0% 0 0.0% 400

Guangzhou 10,000t 1 0 66.7% 1 -37.5% 1 -50.0% 215

Original Standard 10,000t 256 252 1.5% 244 4.9% 224 14.0% -

Gaolan 10,000t - - 0.0% - 0.0% - 0.0% 100

Shekou 10,000t - - 0.0% - 0.0% - 0.0% 50

Taizhou 10,000t - - 0.0% - 0.0% 0 0.0% 200

Majishan 10,000t 7 4 82.1% 9 -18.4% 9 -22.0% 350

Jinzhou 10,000t 1 2 -42.1% 2 -45.0% 0 266.7% 100

Yangzhou 10,000t 1 0 150.0% - #DIV/0! - #DIV/0! 200

Huanghua 10,000t 14 14 0.0% 15 -6.7% 13 7.7% 300

Zhoushanwu 10,000t 5 5 8.9% 5 -2.0% 2 104.2% 90

Weifang 10,000t 1 2 -60.0% 1 -40.0% 1 -25.0% 40

Laizhou 10,000t - - 0.0% - 0.0% - 0.0% 40

41 Ports Total 10,000t 284 278 2.1% 275 3.1% 250 13.6% -

Lanqiao 10,000t 6 4 43.2% 4 53.7% 5 34.0% 500

Meijin 10,000t 1 1 0.0% 1 0.0% 1 100.0% 100

Putian 10,000t - - 0.0% - 0.0% - 0.0% 50

Maweigang 10,000t - - 0.0% - 0.0% - 0.0% 30

45 Ports Total 10,000t 291.2 283 2.7% 280 3.9% 255 14.2% -


Daily Offtakes

20



Qingdao 10,000t 1,775 1,795 -1.1% 1,795 -1.1% 1,200 47.9% 3,000

Rizhao 10,000t 1,483 1,464 1.3% 1,481 0.1% 1,009 47.0% 1,800

Caofeidian 10,000t 1,813 1,892 -4.2% 1,867 -2.9% 1,533 18.2% 2,040

Jingtang 10,000t 1,506 1,516 -0.7% 1,340 12.4% 1,120 34.5% 1,600

Lianyungang 10,000t 940 930 1.1% 920 2.2% 770 22.1% 800

Tianjin 10,000t 805 796 1.1% 970 -17.0% 775 3.9% 1,200

Lanshan 10,000t 590 619 -4.7% 605 -2.5% 428 37.9% 650

Fangchenggang 10,000t 440 470 -6.4% 515 -14.6% 347 26.8% 1,300

Zhenjiang 10,000t 399 404 -1.1% 385 3.6% 321 24.3% 500

Dalian 10,000t 452 454 -0.4% 422 7.1% 318 42.1% 550

Yantai 10,000t 142 132 7.6% 175 -18.9% 174 -18.4% 350

Beilun 10,000t 490 494 -0.8% 470 4.3% 410 19.5% 500

Bayuquan 10,000t 348 336 3.6% 335 3.9% 151 130.5% 400

Taicang 10,000t 268 265 1.1% 210 27.6% 205 30.7% 300

Nantong 10,000t 96 95 1.1% 121 -20.7% 132 -27.3% 260

Rugao 10,000t 48 48 0.0% 46 4.3% 68 -29.4% 350

Zhanjiang 10,000t 281 306 -8.2% 344 -18.4% 216 30.0% 650

Luojing 10,000t 181 173 4.6% 177 2.3% 65 178.5% 220

Nanjing 10,000t 18 21 -13.5% 43 -58.1% 22 -18.2% 200

Jiangyin 10,000t 501 510 -1.8% 518 -3.3% 233 115.0% 200

Xiamen 10,000t 68 58 16.6% 52 31.0% 62 9.8% 150

Fuzhou 10,000t 124 129 -3.9% 121 2.5% 112 10.7% 280

Zhangjiagang 10,000t 60 59 1.7% 86 -30.2% 46 30.4% 100

Qinhuangdao 10,000t 38 44 -12.8% 24 58.3% 32 18.8% 400

Quanzhou 10,000t 2 3 -23.3% 3 -23.3% 11 -79.1% 150

Qinzhou 10,000t 5 5 0.0% 5 2.0% 8 -36.3% 180

Changzhou 10,000t 44 43 2.3% 35 25.7% 28 57.1% 180

Dandong 10,000t 98 108 -9.3% 116 -15.5% 53 84.9% 300

Mawan 10,000t - - 0.0% - 0.0% - 0.0% 75

Longkou 10,000t 26 26 0.0% 30 -13.3% 23 13.0% 400

Guangzhou 10,000t 16 14 14.3% 17 -5.9% 14 14.3% 215

Original Standard 10,000t 13,057 13,208 -1.1% 13,228 -1.3% 9,881 32.1% -

Gaolan 10,000t 8 8 0.0% 8 0.0% 8 0.0% 100

Shekou 10,000t - - 0.0% - 0.0% - 0.0% 50

Taizhou 10,000t 20 20 0.0% 11 81.8% 18 11.1% 200

Majishan 10,000t 262 264 -0.8% 274 -4.4% 232 12.9% 350

Jinzhou 10,000t 33 37 -10.8% 47 -29.8% 12 175.0% 100

Yangzhou 10,000t 2 3 -40.0% 5 -70.0% 7 -78.6% 200

Huanghua 10,000t 350 340 2.9% 370 -5.4% 145 141.4% 300

Zhoushanwu 10,000t 105 128 -18.0% 106 -0.9% 88 19.3% 90

Weifang 10,000t 16 19 -16.7% 8 100.0% 5 220.0% 40

Laizhou 10,000t 2 2 0.0% 2 -25.0% 4 -62.5% 40

41 Ports Total 10,000t 13,854 14,028 -1.2% 14,059 -1.5% 10,399 33.2% -

Lanqiao 10,000t 315 323 -2.7% 291 8.1% 196 60.5% 500

Meijin 10,000t 41 41 0.0% 41 0.0% 42 -2.4% 100

Putian 10,000t 12 12 0.0% 12 0.0% 12 0.0% 50

Maweigang 10,000t 8 8 0.0% 8 0.0% 8 0.0% 30

45 Ports Total 10,000t 14,229 14,413 -1.3% 14,411 -1.3% 10,657 33.5% -


Total Iron Ore Inventories

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About Shanghai GanglianAbout Shanghai GanglianShanghai Ganglian is a professional bulk com-modities service provider. Founded in 2000 in Shanghai, Shanghai Ganglian is the parent company of two listed subsidiaries. It has set up over 30 branches around the world and has more than 3,000 employees. Following its growth over the past 17 years, Shanghai Gan-glian is now China’s leading bulk commodities information, consulting, and E-commerce ser-vice provider. Supported by its large database of information, Shanghai Ganglian has built an integrated E-commerce ecosystem for bulk commodities, including:

• electronic/web-based data services• upstream & downstream industry research• consulting services• E-commerce trading platform• smart warehousing system• informational logistics system • supply chain financing

Shanghai Ganglian’s services cover a wide range of commodities, including steel, iron ore, metallurgical coal, thermal coal & coke, non-ferrous metals, energy, chemical, agricultural produce, etc.

About MysteelMysteel, a professional E-commerce services company, provides a real-time news portal for the Chinese iron & steel market in both English and Mandarin. The company provides qualita-tive and quantitative information on all of the markets it covers, including:

• daily prices (domestic, import and export)• indices• production• shipments• trade• inventories• capacity utilization• analysis and commentary• research• steelmaker directory

Mysteel’s information includes, but is not limited to, various categories, such as:

• HRC/CRC• plate• colour coated/galvanized• plated sheet • rebar/wire rod• sections• pipes• strips• silicon steel• stainless steel• special steel• iron ore• metallurgical coal• thermal coal• coke• ferro-alloys• scrap• pig iron• non-ferrous• freight

About Mysteel Iron Ore Derivatives BrokerageMysteel Singapore is the first office for Mysteel outside of mainland China. Mysteel Singapore focuses on the broking of physical and deriva-tive iron ore contracts. Leaning on the vast data and contacts of Mysteel, from steel mills to Chinese funds, Mysteel Singapore aims to bring closer the link between mainland China and the rest of the world.

Futures & Options Brokerage SingaporeMyles Clement (Futures)[email protected]

Alex Williams (Options)[email protected]

Futures & Options Brokerage ShanghaiWiliam Yang (Futures)[email protected]

Coco Wang (Options)[email protected]

22


Prices, indices and other price information published herein are based on material collected from actual market participants. Mysteel makes no waranties, express or implied, as to the accuracy, adequacy or completeness of the data and other information set forth in this report (‘data’) or as to the merchantabil-ity or fitness for a particular use of the data. Mysteel assumes no liability in connection with any party’s use of the data. Corporate policy prohibits editorial personnel from holding any financial interest in com-panies they cover and from disclosing information prior to thepublication date of an issue.

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Copyright 2017 Mysteel. This research report is prepared for the use of Mysteel clients and may not be re-distributed, retransmitted or disclosed, in whole or in part, or in any form or manner, without the express written consent of Mysteel. Mysteel Raw Material Daily is distributed simultaneously to internal and other portals by Mysteel and are not publicly-available materials. Any unauthorized use or disclosure is pro-hibited. Receipt and review of this report constitutes your agreement not to redistribute, retransmit, or disclose to others the contents, opinions, conclusion, or information contained in this report without first obtaining expressed permission from an authorized officer of Mysteel.

Materials prepared by Mysteel are based on public information. Facts and views presented in this mate-rial have not been reviewed by, and may not reflect information known to, professionals in other busi-ness areas of Mysteel. Mysteel hase stablished information barriers between Mysteel and certain business groups. As a result, Mysteel does not disclose certain client relationships with, or compensation received from, such companies in research reports. To the extent this report discusses any legal proceeding or issues, it has not been prepared as nor is it intended to express any legal conclusion, opinion or advice. Investors should consult their own legal advisers as to issues of law relating to the subject matter of this report.

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