[China Iron Ore Brief] Iron Ore Concentrate Prices in Tangshan Area Likely to Remain Stable

Iron ore concentrates prices in the Tangshan area are relatively stable, with 66% grade iron ore concentrates, dry basis delivered price, tax included, at 980-985 yuan/mt. Local mines and beneficiation plants are mostly producing normally as planned. In the Chengde area, mines and beneficiation plants were previously affected by heavy rainfall. Recently, most local open-pit iron mines have resumed normal production, but underground mines and beneficiation plants, as well as a few individual large open-pit mines, are still suspended, and overall local resources remain tight. Demand side, local steel mills are expected to have some maintenance, and overall hot metal output may decline, weakening support for iron ore demand, and the local market is in a situation of both weak supply and demand. Overall, local iron ore concentrates prices are expected to remain stable in the short term. [SMM Steel]