SMM daily comment on domestic iron ore market (Aug 22)

SHANGHAI, Aug 22 (SMM) –

At the beginning of this week, the iron ore concentrate market in Tangshan was in a strong wait-and-see sentiment. Considering the recent strong rise in imported ore prices, it is expected that the bid prices of local leading steel mills will be raised. Beneficiation plants flexibly produce according to orders and are cautious about purchasing due to high purchase costs Shortage of raw materials limited the operating rates of beneficiation plants leading to tight supply. Traders are still worried about the market outlook. In addition, the current inventory is still at a moderate level. Therefore, most traders are unwilling to stock up too much, and the market transactions are muted. On the whole, since the short-term market supply and demand are both weak, the price will remain stable.