SMM

The price of iron ore concentrates in the Tangshan region has recently seen a slight rebound, with the delivery-to-factory price for 66-grade dry basis including tax at 970-980 yuan/mt. Currently, there is no absolute imbalance in the market fundamentals, but the low supply situation is quite evident. Regarding mining operations, Qianxi and Zunhua have low operating rates, while Qian'an is relatively better. However, even enterprises capable of normal production are not operating at full capacity, leading to tight local iron ore concentrate resources. On the demand side, steel mills are still primarily purchasing as needed, and the market is characterized by a weak supply and demand pattern. Considering that the Two Sessions are expected to convene tomorrow, local iron ore concentrate prices are likely to fluctuate downward in the short term. 【SMM Steel】