[Domestic Iron Ore Brief Review] Iron Ore Concentrate Prices in Hebei May Have Some Upside Potential

In Hebei's Tangshan region, iron ore concentrate prices remain relatively stable, with no significant changes in production at mines and beneficiation plants. However, operations at mines and beneficiation plants in Zhangjiakou, Hebei may increase later, and previously suspended facilities are expected to resume normal production in H1 this year, which could lead to some growth in local iron ore concentrate output. Currently, overall iron ore concentrate resources in the area remain tight. On the demand side, steel mills have not yet shown significant restocking activity, but the recent narrowing of the price spread between domestic and imported ore has improved the cost-effectiveness of domestic iron ore, prompting steel mills to increase procurement of domestic ore. Coupled with the recent volatile but strengthening iron ore futures, this may boost domestic iron ore concentrate market sentiment. Overall, local iron ore concentrate prices are expected to have some upward potential in the short term. [SMM Steel]