[China Iron Ore Brief] Iron Ore Concentrates Prices in Tangshan Area May Have Some Upside Potential

Iron ore concentrates prices in the Tangshan area were relatively stable, with the current ex-factory prices for 66-grade iron ore concentrates on a dry basis, tax-inclusive, at 975-980 yuan/mt. A coal mine accident occurred in Shanxi last weekend, but its impact on mines and beneficiation plants in Hebei was limited. Mines and beneficiation plants estimated that the intensity of safety inspections may increase in the near term. Currently, the overall operating rate of mines and beneficiation plants remained low, and overall iron ore concentrates resources were relatively tight. It is estimated that the supply shortage may intensify going forward. Steel mills were mostly producing normally as planned, and local overall hot metal production remained at a relatively high level, providing some support for iron ore concentrates demand. Overall, the fundamentals of local iron ore prices improved slightly, and it is estimated that local iron ore concentrates prices may have some room for upward movement in the short term. [SMM Steel]