[Domestic Iron Ore Brief] Iron Ore Concentrates Prices in Tangshan Region Expected to Remain in the Doldrums with Fluctuations

In the Tangshan area, prices for iron ore concentrates at mines and beneficiation plants are relatively stable, with 66% grade iron ore concentrates at 970-980 yuan/mt. Local environmental protection-related controls remain in effect, and the domestic ore market is noticeably stagnant, with resource tightness persisting. Demand side, steel mills, affected by environmental protection-driven production restrictions, are undergoing concentrated maintenance, leading to a significant decline in hot metal production, which weakens support for iron ore concentrate demand. The market is in a situation of weak supply and demand. However, considering that these controls are expected to be lifted soon, the fundamentals are anticipated to gradually return to normal. Nevertheless, given the recent weak performance of iron ore futures, which may impact domestic iron ore concentrate prices, it is expected that local iron ore concentrate prices will show weak and stable fluctuations in the short term. [SMM Steel]