[Domestic Iron Ore Brief Review] Iron Ore Concentrate Prices in the Tangshan Region May Have Some Upside Potential

The Tangshan domestic ore market exhibited a noticeable wait-and-see atmosphere. The current delivery-to-factory price, tax included, for Fe66% iron ore concentrates on a dry basis is 1,020-1,025 yuan/mt. Producers with inventory are holding onto their stocks and observing the market, showing no urgency to sell, with some individual suppliers raising their offers. Operations at mines and beneficiation plants showed no significant improvement, and there were certain obstacles to the inflow of surrounding resources into Tangshan, leading to tight availability of local iron ore concentrates, which provided some support to ore prices. Steel mills continue to face significant profit pressure, and their purchasing is primarily conducted as needed, resulting in relatively sluggish overall market transactions. However, considering the recent strong performance in iron ore futures, it is expected that there may be some upward potential for local iron ore concentrate prices in the short term. [SMM Steel]