The Tangshan domestic ore market is steady overall. 66% grade iron ore concentrates, dry basis, tax-included ex-factory prices are 970-975 yuan/mt. Local iron ore concentrate resources remain tight, supporting producers' costs and their willingness to hold prices firm. Beneficiation raw materials are tight, low-price resources are hard to find, and considering costs, asking prices stay firm. On the steel mill side, recent profit margins have narrowed, leading to mostly purchasing as needed, with a relatively strong overall desire to bargain down prices. Recently, iron ore futures have trended weakly, which has affected domestic iron ore concentrate prices to some extent. It is estimated that local iron ore concentrate prices may remain in the doldrums with some fluctuations in the short term. [SMM Steel]
