【Domestic Iron Ore Brief Review】Fundamentals Provide Support, Domestic Iron Ore Concentrate Prices Expected to Slightly Rise in the Short Term

The Tangshan iron ore concentrate market remained stable in many areas, with the delivery-to-factory price for 66-grade dry basis including tax at 930-940 yuan/mt. The operation of concentrate plants was at a low level, and the inventory reduction at material yards also slowed down, resulting in a relatively quiet overall market. Steel mills are still profitable at present, and the willingness for blast furnace maintenance is weak in the short term. Pig iron production remains at a high level, providing some support for the demand for iron ore concentrates. However, steel mills are cautious in their procurement, mostly purchasing as needed, and the demand-driven effect is not significant. Overall, the fundamentals of domestic iron ore still provide some support for ore prices, and with no significant negative external macro news, it is expected that the local iron ore concentrate price may have some room for a slight increase in the short term. 【SMM Steel】