SMM Steel Morning News: Building materials fell sharply, can next week bring a turning point? Transaction in Tangshan area remains quiet, with local iron powder prices experiencing a significant decline recently, dropping below the production cost of some mines, causing local mines to start shutting down, and many adopt a wait-and-see attitude waiting for a rebound. The shortage of fine ore resources intensifies; affected by weak terminal demand, some steel mills have started to shut down and conduct maintenance on blast furnaces, resulting in reduced demand for iron powder. The supply and demand sides are still in a tug-of-war. Considering the recent weakness in the overseas futures market, steel mills are eager to press prices down, and it is expected that local ore prices still have some room for further decline.
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