[China Iron Ore Brief Review] Iron Ore Concentrate Prices in the Tangshan Region May Rise Further

Today, iron ore concentrates prices in Tangshan were relatively stable. The ex-factory prices of 66-grade iron ore concentrates, dry basis and tax included, were 970-980 yuan/mt. Environmental protection inspections eased, and steel mills as well as beneficiation plants gradually resumed production, but producers turned more cautious in their operations, with market inquiries remaining inactive. Considering costs and inventory, beneficiation plants still showed a strong willingness to hold prices firm, and overall market transactions were relatively sluggish. However, given the recent strength in iron ore futures, it was expected to boost trading sentiment in the local iron ore concentrates market. Overall, local iron ore concentrates prices were expected to have some room to move higher. [SMM Steel]