[Domestic Iron Ore Brief Review] Tangshan Iron Ore Prices May Continue to Fluctuate

The Tangshan domestic ore market was generally stable, with the delivery-to-factory price, tax included, for 66% grade iron ore concentrates on a dry basis at 1,000-1,005 yuan/mt. Some prices edged higher. Local iron ore concentrate resources were relatively tight, especially in Qianxi and Zunhua areas, where ore resources were scarce, and most producers were in a state of shutdown, leading to overall tight supply. Due to air quality issues, local steel mills may face the risk of blast furnace idling in the near term, and hot metal production may decline, weakening overall demand support. In the short term, local iron ore concentrates are in a supply-demand weak pattern. Considering the recent volatile movement in iron ore futures, it is expected that local iron ore concentrate prices may fluctuate in the short term. [SMM Steel]