[Brief Review of Domestic Iron Ore Market] Iron ore concentrates prices in the Tangshan region fluctuated rangebound

The domestic ore market in the Tangshan region remained relatively stable overall, with delivery-to-factory prices for 66% grade dry-basis ore (tax included) ranging from 920 to 930 yuan/mt. The operational enthusiasm of local producers has not significantly improved, and there is still some resistance in ore beneficiation and shipment. Currently, beneficiation plants are showing signs of divergence. Beneficiation plants with captive mines, except for those with long-term agreement orders, have a strong wait-and-see sentiment. Independent beneficiation plants processing imported ore have reported moderate demand, with some steel mills inquiring about production plans, and the overall shipment pace remains moderate. Independent beneficiation plants processing domestic ore are experiencing inverted profits, with most in a state of shutdown for maintenance. On the demand side, pig iron production at steel mills' blast furnaces remains at a high level, providing some support to demand. It is expected that the tug-of-war between sellers and buyers will continue, and iron ore concentrates prices in the region will fluctuate rangebound in the short term.