[Domestic Iron Ore Brief Review] Iron Ore Concentrate Prices in the Tangshan Region Expected to Remain Stable in the Near Term

At the beginning of the week, iron ore concentrate prices in the Tangshan area remained relatively stable, with the delivery-to-factory price, tax included, for Fe66% iron ore concentrates (dry basis) ranging from 1,015 to 1,020 yuan/mt. Recently, transactions of domestic iron ore concentrates in the local market have been sluggish. Overall operating rates at mines and beneficiation plants remain at relatively low levels, leading to tight supply of iron ore concentrates and a strong wait-and-see sentiment. Steel mills continue to purchase as needed and have a strong desire to bargain down prices. Moreover, as the year-end approaches, some steel mills have maintenance plans, which will further weaken support for iron ore concentrate demand. However, considering the relatively firm trend in iron ore futures recently, which may boost the domestic iron ore concentrate market, it is expected that local iron ore concentrate prices will remain relatively stable in the short term. [SMM Steel]