[Domestic Iron Ore Brief] Prices in the Tangshan Region May Continue to Be in the Doldrums

In Tangshan, the price of iron ore concentrates edged down by 1-5 yuan/mt, with the current ex-factory price for 66% grade iron ore concentrates on a dry basis including tax at 980-985 yuan/mt. The fundamental landscape for domestic iron ore prices remains unchanged, with overall supply still relatively tight. However, as the year-end approaches, mines and beneficiation plants are releasing some supply appropriately. Yet, with iron ore futures continuing to weaken recently, steel mills maintain a strong overall inclination to push for lower prices for domestic ore and are not in a hurry to procure. Additionally, restocking of imported ore inventories has largely concluded, so demand for domestic ore is not particularly urgent. Overall, in the short term, local iron ore concentrate prices are expected to remain in the doldrums. [SMM Steel]