[Domestic Iron Ore Brief] Iron Ore Concentrate Prices in Tangshan Region May Have Some Upside Potential

Tangshan region iron ore concentrate prices edged up, with the delivery-to-factory price for 66% grade dry basis concentrates including tax at 1,000–1,010 yuan/mt. Local mines and concentrators gradually resumed production, and demand for low-grade products improved. Meanwhile, the higher cost of resources flowing in from Chengde supported the high-price mentality of low-grade producers in Zunhua. Overall, iron ore concentrate resources remained sluggish. Steel mills have resumed normal production, and hot metal output remains relatively high, supporting demand for iron ore concentrates. Coupled with the recent strong performance of iron ore futures, this may drive the local domestic ore market, and local iron ore concentrate prices may still have some room to rise. [SMM Steel]