SMM

Affected by the price increase initiated by leading steel mills in the Tangshan region, the delivery-to-factory price of local 66-grade iron ore concentrates (dry basis, tax-included) was raised by 10-15 yuan. Currently, production at mines and beneficiation plants remains tight. However, on the demand side, steel mills have not accelerated their purchasing pace. With the completion of equipment maintenance at leading steel enterprises, raw material procurement is primarily focused on restocking as needed. The market shows a clear dual weakness in supply and demand. Considering the recent upward fluctuations in iron ore futures, this may stimulate local iron ore concentrates trading activity, and local iron ore concentrates prices may have some room for upward movement. 【SMM Steel】