[China Iron Ore Brief] Iron ore concentrates prices in the Chengde area are likely to show a fluctuating trend

Prices of iron ore concentrates in the Chengde area of Hebei are stable, with the dry basis, tax-included ex-factory price for 65% grade material at 925 yuan/mt. Today, environmental protection and safety supervision teams visited the area for inspection. Operating mines and beneficiation plants reported that production remains normal. However, overall iron ore concentrate resources in the area are still relatively tight, and mines and beneficiation plants generally have a strong intention to hold prices firm. Steel mills' profits have been shrinking recently, leading to predominantly need-based concentrate procurement and moderate overall market trading. Recently, iron ore futures have exhibited a volatile trend. It is expected that local iron ore concentrate prices will fluctuate in the short term. [SMM Steel]