[Domestic Iron Ore Brief] Tangshan area prices are likely to consolidate

Iron ore concentrate prices in the Tangshan area are relatively stable, with 66% grade iron ore concentrates at a dry basis delivered price, tax included, of 890-895 yuan/mt. Supply side, conditions are relatively stable, with mines and beneficiation plants mostly producing according to plan. Mines and beneficiation plants that had previously halted production still show no clear progress in resuming production, and overall iron ore concentrate resources remain tight. Demand side, steel mills are still facing significant profit losses, and hot metal production is expected to decline later, leading to a relatively strong desire to bargain down iron ore concentrate prices. In the short term, the market remains in a standoff. Overall, local iron ore concentrate prices are expected to consolidate in the near term. [SMM Steel]