[Domestic Iron Ore Brief Review: Iron Ore Concentrate Prices in Tangshan Area Expected to Remain Volatile] The domestic ore market in the Tangshan area is generally stable, with local iron ore concentrate prices relatively steady. The delivery-to-factory price, tax included, for 66% grade iron ore concentrates is 980-985 yuan/mt. Local iron ore concentrate resources are relatively tight, providing some support for domestic ore prices. Approaching the end of the year, some mines and beneficiation plants are appropriately shipping goods due to capital turnover considerations. However, steel mills currently have an overall desire to bargain down prices.

[Domestic Iron Ore Brief: Iron Ore Concentrate Prices in Shandong Region Expected to Fluctuate] In Shandong, the 64-grade alkaline powder is quoted at 874 yuan per dry metric ton, down by 27 yuan, on a pre-tax, acceptance-paid ex-mine basis. Steel mills have simultaneously lowered their prices. Recently, affected by local snowfall, miners' shipments have slowed down. Moreover, with expectations of a price reduction by major mining companies, steel mills' purchasing enthusiasm has waned compared to the previous period. However, current steel mill inventories remain at relatively low levels.

[Domestic Iron Ore Brief: Iron Ore Concentrate Prices in Tangshan May Remain in the Doldrums] In recent days, the domestic ore market in Tangshan has remained generally stable, with ex-factory prices for 66% grade iron ore concentrates on a dry basis, including tax, at 895-900 yuan/mt. Producers have shown strong wait-and-see sentiment, with limited inquiries and offers in the market. Most transactions were for long-term contract orders, with a few driven by cash flow considerations.