SMM

At the beginning of the week, the price of iron ore concentrates in the Tangshan area slightly increased, with the delivery-to-factory price for 66-grade dry basis including tax at 935-945 yuan/mt. The inventory pressure on producers is relatively small, and the resource cost is high, making it difficult for steel mills to reach their psychological expectations in single negotiations. The futures market for iron ore strengthened, and local finished products also saw a slight increase, further boosting producer sentiment. However, the overall sentiment to stand firm on quotes is strong in mines and beneficiation plants, and the overall market transactions are relatively quiet. However, as the Labour Day holiday approaches, steel mills are expected to restock, which may drive market transaction enthusiasm. It is expected that the local price of iron ore concentrates may have some upward potential in the short term. 【SMM Steel】