[Brief Review of Domestic Iron Ore Market] Iron ore concentrates prices in the Tangshan region are expected to fluctuate rangebound

The domestic ore market in Tangshan was mostly stable with individual prices dipping. Beneficiation plants and traders mostly maintained a wait-and-see sentiment, reducing their operations. Many independent beneficiation plants in Zunhua and Qianxi were shut down for maintenance. Some spot cargo holders, due to high costs, mostly did not quote prices or make shipments. A few quoted high prices. Only a small number of beneficiation plants were operating flexibly, with a significant reduction in the purchase of low-grade ore. Even when some sought ore, the prices offered were difficult to meet the sellers' psychological expectations. Overall, market transactions were relatively sluggish. Currently, steel mills are mainly purchasing as needed, with weak overall market transactions. The market is in a situation of weak supply and demand. It is expected that next week, the local iron ore concentrates prices will likely continue to fluctuate rangebound. [SMM Steel]