[Brief Review of Domestic Iron Ore Market] Prices of iron ore concentrates in the Tangshan region may be in the doldrums

The price of iron ore concentrates from domestic mines in Tangshan dropped slightly. Currently, the delivery-to-factory price (dry basis, tax included) for 66-grade iron ore concentrates is 880-890 yuan/mt. There are no significant inquiries for beneficiation and trading, with some low offers being evident. Beneficiation plants are facing significant pressure from losses and are reluctant to sell. There are no significant transactions for high-grade resources. Most of the ore sold in the market is for steel mill orders. Both supply and demand for low-grade ore are weak. Recently, some local steel mills have been formulating their annual maintenance plans one after another. The overall demand for domestic iron ore concentrates in the market is weak. Additionally, the futures market for iron ore has been volatile recently. It is expected that the price of local iron ore concentrates will remain in the doldrums in the short term. [SMM Steel]