[Domestic Iron Ore Brief Review] Iron Ore Concentrate Prices in Tangshan May Experience Downward Fluctuations

The Tangshan domestic ore market saw partial increases of 5-10 yuan/mt. The current delivery-to-factory price, tax included, for Fe66% iron ore concentrates on a dry basis is 1,010-1,015 yuan/mt. The iron ore futures provided support and boosted producers' bullish sentiment, leading to an increase in concentrators holding stocks and waiting for price rises, or even adopting wait-and-see strategies. However, intermediate links remained cautious in inquiries and sourcing, with limited purchase willingness at high prices, resulting in thin market transactions. Additionally, the escalation of Sino-US trade friction has increased market volatility, which may impact iron ore prices. Coupled with shrinking steel mill profits, steel mills overall have a strong desire to bargain down prices. It is expected that domestic iron ore prices may fluctuate downward next week. [SMM Steel]