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

The domestic ore market in the Tangshan area remained stable with a wait-and-see approach. The current tax-inclusive delivered price for 66% grade iron ore concentrates is 980-990 yuan/mt. While the impact of local environmental protection-related controls has weakened, most mines remain shut down for observation due to issues such as government controls, profit margins, and shipment pressures. Overall iron ore concentrate resources in the area remain relatively tight. On the steel mill side, recent profits have improved, but the overall desire to bargain down prices remains relatively strong. Coupled with the fact that steel mills are currently purchasing mostly as needed, without major restocking operations, overall market transactions are relatively sluggish. It is expected that local iron ore concentrate prices will mainly fluctuate in the short term. [SMM Steel]