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

In recent days, the domestic ore market prices in Tangshan have remained generally stable. The ex-factory prices for 66% grade iron ore concentrates on a dry basis, including tax, were 895-900 yuan/mt. Producers exhibited strong wait-and-see sentiment, with limited inquiries and offers in the market. Most transactions were for long-term contracts, while a few sellers, motivated by cash flow needs, made appropriate shipments with slightly looser asking prices compared to earlier periods. Local steel mills showed limited urgency in procurement and have not yet initiated significant restocking operations. Some mills expressed intentions to push for lower prices to control costs. Coupled with the recent weak performance in iron ore futures, it is expected that local iron ore concentrate prices may trend in the doldrums in the short term. [SMM Steel]