SMM

Driven by the price increases initiated by steel mills in some areas, the iron ore concentrates market in the Tangshan region saw a price rise of 5 yuan/mt. Currently, the dry-basis, tax-inclusive delivery-to-factory prices of Fe66% iron ore concentrates range from 935 to 940 yuan/mt. Currently, the purchasing pace of most steel mills in the Tangshan region is relatively slow, and the prices and sales volumes of locally produced finished steel products are in the doldrums. To safeguard profits, steel mills mainly conduct tenders when their raw material inventories are relatively tight, with purchasing as needed being the primary approach. Resources at mines and beneficiation plants remain tight, and the process of resuming production is relatively slow. However, considering the recent weak trend in the futures market for iron ore, it is expected that the local iron ore concentrates prices will likely remain in the doldrums in the short term. [SMM Steel]