[Domestic Iron Ore Brief] Tangshan Area Iron Ore Prices May Edge Up Slightly

The market price of domestic iron ore in Tangshan was relatively stable, with the delivery-to-factory price for 66% grade iron ore concentrates (dry basis, including tax) at 980-990 yuan/mt. As most local mines and concentrators were in a state of shutdown, producers showed no obvious trading activities, and a few maintained a high-price mentality without urgency to sell. Steel mills mainly purchased as needed, with a relatively strong overall desire to bargain down prices. Coupled with successive maintenance at local steel mills, demand support weakened. The market is currently in a situation of weak supply and demand. Considering the recent strong performance of iron ore futures, it may drive domestic iron ore prices upward. [SMM Steel]