Zhongtai Futures Research Institute:Dong XueshanPractitioner Qualification Certificate Number:F3075616Trading Advisory Qualification Certificate Number:Z0018025 Weekly Perspective:From a fundamental perspective, the bias remains bearish, with attention to disruptionsin arrival schedules. Global Shipments Iron Ore Analyst:Dong XueshanPractitioner Qualification Certificate Number:F3075616 Mine Shipments Iron Ore Arrivals at Domestic Ports Domestic Iron Ore Supply (Monthly):Iron Concentrate Production of 433 Mining Companies Domestic Iron Ore Supply (Weekly):Daily Iron Concentrate Production of 126 Mining Companies(266 Mines) Domestic Iron Ore Supply (Weekly) Inventory-Overview Inventory-Breakdown at 45 Ports Price-Indices Price-Spot & Product Spreads Price-Warehouse Receipt Cost Price-Futures, Calendar Spreads & Domestic vs. International Price-Product Basis (May Contract) Price-USD Premium Disclaimer Zhongtai Futures Co., Ltd. (hereinafter referred to as "the Company") is qualified to conduct futures trading consultation business asapproved by the China Securities Regulatory Commission (CSRC) (CSRC License No. 112 [2012]). This report is for the exclusiveuseof the Company's clients only. does the information or opinions expressed in this report constitute trading advice for any individual. The Company assumes noresponsibility for any losses incurred by any person as a result of using the content of this report. Market risks exist andinvestment The information, views and forecasts contained in this report reflect the judgment of the Company's analysts on the date of initialrelease. They are based on information that the analysts consider reliable and publicly available. The Company strives but doesnotguarantee the accuracy and completeness of this information, nor does it guarantee that the views or statements in the reportwill notchange. At different times, the Company may issue reports that are inconsistent with the information, opinions and predictions in thisreport without prior notice, and may also give opinions that are different or contrary to those of other business departments, units or The intellectual property rights of this report belong to the Company. Without the Company's written permission, no institutionor individual may reproduce, disseminate, adapt, sell, publish, broadcast or use it for any other commercial purpose. If it is quoted,published or reprinted, the Company's consent must be obtained and the source must be indicated as Zhongtai Futures. No partofthis The original content of this report is based on the Chinese language, andtheEnglishlanguage is for reference only. MMMM D, YYYY