[China Iron Ore Brief] Iron Ore Concentrates Prices in Tangshan Area Likely to Remain in the Doldrums
[Domestic Iron Ore Brief Review] The domestic ore market in the Tangshan area weakened slightly. The delivery-to-factory price, tax included, for 66-grade dry-basis iron ore concentrates was lowered by 5 yuan, currently quoted at 985-990 yuan/mt. Steel mills recently saw profit margins shrink, with a relatively strong desire to bargain down prices for domestic ore overall, mostly purchasing as needed. On the supply side, local iron ore concentrates resources were relatively tight overall, with a relatively strong desire to hold prices firm, and overall market transactions were relatively sluggish. In addition, iron ore futures recently trended weaker.