[Brief Review of Domestic Iron Ore Market] The price of iron ore concentrates in the Tangshan region may have some room to rise

Iron ore concentrate prices in the Tangshan region have slightly increased, with the dry basis tax-included delivery-to-factory price of 66% grade iron ore concentrates rising by 20 yuan/mt to 880-885 yuan/mt. Mines and beneficiation plants currently face a relatively tight supply of iron ore concentrates overall, and the domestic product's cost-performance ratio has improved compared to imported ore. The overall willingness to sell among mines and beneficiation plants remains moderate. On the demand side, steel mills currently have moderate profits but primarily adhere to purchasing as needed, maintaining strong pressure to drive down prices, with a clear market mentality of strategic bargaining. Considering the recent strong performance of the iron ore futures market, local iron ore concentrate prices may have some upward potential in the short term. [SMM Steel]