[Domestic Iron Ore Brief Review] Iron Ore Concentrate Prices in Tangshan Area Expected to Fluctuate at Highs

In Hebei's Tangshan region, the price of iron ore concentrates has remained relatively stable in recent days, with the ex-factory price for 66% grade dry basis concentrates including tax at 920-925 yuan/mt. Supply remains tight, as the local governments in Qian'an and Zunhua recently issued written documents regarding land use regulations for iron ore beneficiation enterprises, leading to some non-compliant enterprises suspending operations for rectification, along with production restrictions and power rationing. According to SMM tracking, the suspended enterprises are mostly small-scale beneficiation plants with limited capacity, having a minimal impact on local iron ore concentrate supply. On the demand side, local steel mills are mainly purchasing as needed, with a strong overall desire to bargain down prices. Overall, it is expected that in the short term, local iron ore concentrate prices will continue to fluctuate at high levels. [SMM Steel]