【Brief Review of Domestic Iron Ore Market】Iron ore concentrates prices in the Tangshan region may be in the doldrums

The Tangshan iron ore concentrates market saw sluggish trading activity. The delivery-to-factory prices for 66% grade iron ore concentrates on a dry basis, inclusive of tax, ranged from 940 to 950 yuan/mt. Producers maintained a wait-and-see attitude, and those holding spot cargoes held firm on their asking prices. However, some were inclined to destock a small amount ahead of the holiday. As the holiday approached, individual steel mills showed an increased willingness to restock, but considering profit margins, there were few inquiries for price increases, thereby suppressing upward price movements in the local market. Overall, the market's competitive mindset remained evident. Coupled with the recent abundance of negative external news, it is expected that local iron ore concentrates prices will likely remain in the doldrums in the short term. [SMM Steel]