[China Iron Ore Brief] Iron ore concentrate prices in the Tangshan area will likely keep consolidating.

Iron ore concentrates prices in Tangshan area are relatively stable, with the delivered price for 66% grade concentrates on a dry basis, tax included, at 970-980 yuan/mt. Overall production in Tangshan is relatively stable, and mines and beneficiation plants are mostly producing normally as planned. In Chengde, the domestic ore market is seeing moderate trading; ROM resources are tight, constraining producers' output and keeping overall operating rates low, with spot supply relatively low and holders holding prices firm while showing strong sentiment to hold back from selling. On the demand side, steel mills are still mainly purchasing as needed, with overall market transactions relatively sluggish. Sellers and buyers remain in a tug-of-war, and in the short term, local iron ore concentrate prices are expected to continue to consolidate. [SMM Steel]