[Domestic Iron Ore Brief Review] Iron Ore Concentrates in the Tangshan Region May Experience Volatile Fluctuations

This week, the Tangshan domestic ore market was generally stable with a slight rise. Some steel mills raised their procurement prices by 5-10 yuan/mt. The current delivery-to-factory price, tax included, for 66% grade iron ore concentrates on a dry basis was 1,005-1,010 yuan/mt. However, steel mills slowed down their procurement pace and still had a strong overall intention to drive down prices. Traders were cautious in inquiries and procurement, leading to thin market trading. Looking ahead to next week, as the holiday approaches, steel mills have completed restocking and stockpiling, and the procurement pace is expected to slow down, with demand weakening. Nevertheless, stable operations at steel mills keep daily consumption demand for iron ore concentrates steady, which also supports demand to some extent. It is expected that local iron ore concentrate prices may maintain volatile operations in the short term. [SMM Steel]