The price of iron ore concentrates in the Tangshan region experienced a slight decline, with the delivery-to-factory price, tax included, for 66% grade iron ore concentrates (dry basis) at 960-965 yuan/mt. On the supply side, overall resources of iron ore concentrates remain tight at mines and beneficiation plants. Approaching the Two Sessions, local mines and beneficiation plants have not yet received any notifications regarding restrictions on explosives, and most are maintaining normal production as planned. Demand side, some local steel mills have received relevant notices indicating possible short-term maintenance or reduced production loads during the Two Sessions, weakening support for iron ore concentrates demand. Coupled with the recent weak performance in iron ore futures, the local iron ore concentrates price is expected to remain in the doldrums in the short term. [SMM Steel]
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