[Domestic Iron Ore Brief Review] Tangshan Iron Ore Concentrates Prices May Continue in the Doldrums

At the beginning of the week, the domestic ore market in Tangshan remained generally stable. Currently, the delivery-to-factory price, tax included, for Fe66% iron ore concentrates on a dry basis is 1,005-1,010 yuan/mt. Producers showed relatively clear wait-and-see sentiment at the start of the week. However, due to tight local and surrounding resources and high costs, purchasing remained quite difficult for producers. With low inventory and high costs, the willingness to sell was insufficient, and mines and beneficiation plants generally had a relatively strong desire to hold prices firm. Steel mills continued to face significant profit pressure, mostly purchasing as needed, and overall had a relatively strong desire to bargain down prices. The market is currently in a situation of weak supply and demand in the short term. Coupled with the recent weak performance in iron ore futures, it is expected that local iron ore concentrates may trend in the doldrums in the near term. [SMM Steel]