At the beginning of the week, the iron ore concentrates market in Tangshan operated steadily with sluggish trading. Recently, local iron ore concentrate prices dropped back slightly, with the delivery-to-factory price of 66-grade iron ore concentrates (dry basis, tax-included) at 960-970 yuan/mt. Currently, the overall supply from mines and beneficiation plants remains relatively tight, while the market shows weak supply and demand. Steel mills are restocking at a slow pace, coupled with limited improvement in steel products. Steel mills face significant financial pressure and exhibit a strong willingness to suppress raw material prices. It is expected that in the short term, local iron ore concentrate prices will continue to fluctuate with a stable and weak trend. 【SMM Steel】

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