[Domestic Iron Ore Brief Review] Iron ore concentrate prices in the Tangshan area may remain volatile.

The domestic ore market in the Tangshan region remained generally stable, with local iron ore concentrate prices relatively steady. The delivery-to-factory price, tax included, for 66% grade iron ore concentrates on a dry basis was 980-985 yuan/mt. Local iron ore concentrate supply remained relatively tight, providing some support for domestic iron ore prices. Approaching year-end, some mines and beneficiation plants were releasing appropriate volumes of material for cash flow purposes. However, steel mills maintained a strong desire to bargain down prices, and coupled with recent fluctuations in imported ore prices, domestic iron ore concentrate prices in the region are expected to remain relatively stable in the short term. [SMM Steel]