[Domestic Iron Ore Brief Review] Iron Ore Concentrate Prices in the Tangshan Region Expected to Maintain Minor Fluctuations

The price of iron ore concentrates in Tangshan, Hebei Province edged down by 1-5 yuan. The ex-factory price for 66% grade iron ore concentrates on a dry basis including tax stood at 980-985 yuan/mt. Recently, the willingness to ship from mines and beneficiation plants improved compared to the previous period. Approaching the year-end, mines and beneficiation plants are shipping appropriately due to capital turnover considerations. However, iron ore concentrate resources remain tight currently, providing some support to local iron ore concentrate prices. Steel mills have largely completed restocking of imported iron ore and are not in a hurry to purchase domestic iron ore at present, showing a relatively strong wait-and-see sentiment. Overall, the desire to bargain down prices is relatively strong. The market is currently a buyer's market in the short term. Comprehensively, local iron ore concentrate prices may fluctuate in the near term. [SMM Steel]