[Domestic Iron Ore Brief] Supply and Demand Both Weak, Tangshan Region Iron Ore Concentrates Prices May Trend in the Doldrums

Iron ore concentrate prices in the Tangshan area remained relatively stable, with 66% grade iron ore concentrate priced at 980-990 yuan/mt. Currently, the Level 2 environmental protection alert is in effect, leading to varying degrees of production restrictions at steel mills and mines, resulting in reductions in both supply and demand. The pace of vehicle transport has slowed down, and overall supply remains tight, providing some support for iron ore concentrate prices. On the demand side, steel mills may implement sintering restrictions again in the near term, but the impact on blast furnaces is limited. However, steel mills still maintain a strong desire to bargain down prices. It is expected that local iron ore concentrate prices will continue to fluctuate in the short term. [SMM Steel]