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

Tangshan iron ore concentrate prices edged down, with Fe66% iron ore concentrate ex-factory prices dropping by 10 yuan to 1,000–1,010 yuan/mt. Mines and beneficiation plants are currently operating as planned, but overall operating rates remain low, and the tight supply of iron ore concentrates has not improved significantly. Demand side, local steel mills indicated that sintering production restrictions may be reintroduced soon, which would bolster pellet demand; blast furnaces have not been affected for now, but if environmental protection-driven production restrictions intensify later, hot metal output may decline, weakening demand support for iron ore concentrates. Coupled with recent weak iron ore futures, local iron ore concentrate prices are expected to remain in the doldrums in the near term. [SMM Steel]