SMM

At the beginning of the week, the iron ore concentrates market in Tangshan showed weak trading activity, with local iron ore concentrates prices slightly decreasing by 5-10 yuan. The delivery-to-factory price for 66-grade dry basis, tax-included, was 970-975 yuan/mt. Currently, steel mills' restocking of domestic iron ore concentrates is not significant. According to feedback from steel mills, most inventories are only 2-3 days higher than usual levels, and the overall desire to bargain down prices remains strong. Local mines and beneficiation plants are still under tight production conditions, with major mines operating normally, while most independent beneficiation plants are in a shutdown state. In the short term, the market is in a weak supply and demand situation, with evident market game mentality. Considering the recent wide fluctuations in iron ore futures, it is expected that local iron ore concentrates prices will remain volatile in the short term. 【SMM Steel】