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

The domestic ore market in Tangshan has remained stable overall. The delivery-to-factory price of 66-grade iron ore concentrates (dry basis, tax included) is 880-890 yuan/mt. Despite the fourth round of coke price reductions, steel mills still have a strong desire to drive down prices. Producers lack confidence in steel mills' ability to increase prices, and with limited room for maneuver, most have refrained from inquiries and purchases. Mines and beneficiation plants are currently operating normally, with a pessimistic outlook for the later market. The current market circulation of resources remains tight, and it is expected that the local iron ore concentrate prices will remain in the doldrums in the short term. [SMM Steel]