[Domestic Iron Ore Brief Review] Iron Ore Concentrate Prices in the Tangshan Region May Remain in the Doldrums

[SMM Domestic Ore Daily Briefing]
In the Tangshan region, iron ore concentrate prices edged lower this week, while local ore supply remained relatively tight; the operating rate at mines and beneficiation plants stayed at a low level, with a relatively strong overall willingness to hold prices firm, and market transactions were generally sluggish. On the steel mill side, affected by the local environmental protection-driven production restriction policy, some mills continued to implement blast furnace idling actions, leading to a periodic decline in demand. Steel mill profits were notably compressed recently, resulting in a relatively strong overall desire among mills to drive down prices. Coupled with the recent weak performance of iron ore futures, local iron ore concentrate prices are expected to remain in the doldrums in the short term. [SMM Steel]