Iron Ore Prices in Tangshan to Run Steadily Next Week

SHANGHAI, Feb 24 (SMM) - In Tangshan, the leading steel mills raised the bid price of iron ore concentrate amid the increasing iron ore futures prices in the overseas market. On the supply side, a state-owned mine has passed the inspection and acceptance, and explosive is expected to supply to the mine after the Two Sessions. This week, most of the dressing plants still suspended their production, highlighting the supply tightness in Tangshan. On the demand side, the local pig iron output did not grow palpably. And the steel mills still intended to lower their purchase prices amid the poor profit margins. It is expected that the iron ore concentrate prices in Tangshan will be stable.