【Domestic Iron Ore Brief Review】Iron Ore Concentrates Prices in Tangshan Region May Fluctuate Upward

At the beginning of the week, the price of iron ore concentrates in the Tangshan area rose slightly, with the delivery-to-factory price for 66-grade dry basis including tax at 970-980 yuan/mt. Sentiment in mines and beneficiation plants was bullish, and the increase in tender prices from steel mills pushed market prices higher. Supply side, the market also found support, as volatile conditions led to slim or even negative profits for primary and secondary beneficiation, resulting in low operating rates. Even when in production, operations were not at full capacity or continuous, and local iron ore concentrate resources remained tight, providing some support for local prices. Demand side, pig iron production from blast furnaces in steel mills continued to show an upward trend. Overall, it is expected that the local iron ore concentrate prices may fluctuate upward in the short term. 【SMM Steel】