SMM daily comment on Tangshan iron ore market (Aug 15)

SHANGHAI, Aug 16 (SMM) –

In Tangshan, as steel mills took a wait-and see approach to observe market, iron ore market activity was minimal. Buyers merely purchased iron ores to meet early orders. Volatile iron ore futures, steel price erosion and uncertain iron ore concentrate price trend casted a shadow over iron ore market. Therefore, traders held onto goods and waited. While most beneficiation plants produced goods to meet early orders. Spot ore supply shortfalls offered some support for ore market to a certain extent. Overall, supply and demand appeared weak. It is expected that iron ore price in Tangshan will still have some room to dip.