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

Iron ore concentrate prices in Tangshan remained relatively stable at the beginning of the week, with the delivery-to-factory price for 66% grade dry basis including tax at 920-930 yuan/mt. Producers mostly adopted a wait-and-see approach toward steel mill orders early in the week. However, as weather conditions improved, shipments of iron ore concentrate resources from Chengde to Tangshan gradually resumed, though tradable supplies remained tight, and overall market resources continued to be constrained. Steel mills currently maintain elevated hot metal production levels, providing some support for iron ore concentrate demand. Coupled with the strong performance of iron ore futures at the start of the week, local iron ore concentrate prices are expected to retain some upward potential in the near term. [SMM Steel]