[Domestic Iron Ore Brief Review] Iron Ore Prices in the Tangshan Region May Edge Lower

[SMM Daily Review of Domestic Iron Ore]
Prices for 66% grade iron ore concentrates (dry basis, tax included, delivery to factory) in the Tangshan area dipped slightly, currently at 1,010-1,015 yuan/mt. Local supplies of iron ore concentrates remain tight; however, prices in surrounding areas continued to decline. Two major steel mills in Qian'an successively lowered their purchase prices, and buyers were also reluctant to purchase. With both supply and demand weak, market activity was muted. Steel mills are currently facing severe profit declines, compounded by environmental protection-driven production restrictions, with some blast furnaces at individual mills being banked, further weakening support for iron ore concentrate demand. Consequently, local iron ore concentrate prices experienced a slight decrease. Looking ahead to next week, considering the current weak trend in imported ore prices, local iron ore concentrate prices are expected to remain in the doldrums. [SMM Steel]