Amidst global iron ore supply and demand restructuring, China is strengthening its industrial raw material security through full-chain digital transformation.

Currently, the global iron ore market is undergoing a period of profound adjustment in supply and demand. Coupled with the accelerating integration of the digital economy and the real economy, the iron ore industry has entered a new stage of development characterized by "digital drive and full-chain collaboration." As the core pillar of the global steel industry, the stability and efficiency of the iron ore supply chain are directly related to the resilience and competitiveness of the industrial economy. By promoting digital transformation across the entire supply chain, including mining, logistics, transportation, and trade, my country is addressing global supply and demand fluctuations while continuously strengthening its industrial raw material security and injecting new momentum into the high-quality development of China's manufacturing industry.

Digital transformation provides key support for improving domestic iron ore mining efficiency. Currently, large-scale iron ore mining companies in my country have widely adopted 5G+ intelligent mining systems. Through the coordinated operation of drone exploration, autonomous mining vehicles, and intelligent mineral processing equipment, mine production efficiency has increased by over 45%, while also raising mineral resource utilization to 80%, effectively addressing the challenge of developing low-grade iron ore. For example, Ansteel Group's smart mining project in Liaoning Province leverages big data analytics to optimize mining processes, reducing the cost per ton of iron ore by 18% and reducing carbon emissions by over 200,000 tons annually, achieving both economic and environmental benefits.

In the iron ore supply chain, the establishment of a digital platform has significantly improved resource allocation efficiency. my country has established a smart iron ore logistics system covering the "mine-port-steel mill" chain. Using blockchain technology, it enables full traceability of iron ore trade, effectively mitigating supply chain risks. Leveraging IoT technology, real-time monitoring of port inventory and transportation dynamics has increased iron ore port turnover efficiency by 30%, alleviating port congestion. Furthermore, the digital upgrade of the iron ore futures market, including the introduction of futures and options combination tools, helps steel companies mitigate price volatility risks. In the first half of 2024, the proportion of steel companies using futures tools to hedge risk increased by 22% year-on-year.

Faced with the challenges of restructuring global iron ore supply and demand, digital transformation has become a key tool for enhancing supply chain resilience. Currently, traditional suppliers such as Australia and Brazil are experiencing declining export stability due to extreme weather and logistical bottlenecks. However, my country is leveraging digital technology to diversify its supply channels, analyze global iron ore production capacity, transportation costs, and policy changes in real time, and precisely connect with emerging suppliers such as Russia and Guinea. By the first half of 2024, the proportion of iron ore imports from emerging suppliers will increase to 15%, further reducing supply chain dependency risks.

Going forward, with the deep integration of digital technology into the iron ore industry, my country will continue to promote digital upgrades across the entire supply chain. With more efficient resource allocation, a more resilient supply chain, and greener production models, China will seize the initiative in global iron ore competition and provide a solid raw material guarantee for the high-quality development of its industrial economy.