SMM

[SMM Domestic Ore Daily Brief]
Hebei Tangshan region iron ore concentrate prices were relatively stable, with Fe66% iron ore concentrate delivery-to-factory price, tax included at 1,020-1,030 yuan/mt. Local iron ore concentrate resources were relatively tight, providing some support to local ore prices. Demand side, local steel mill maintenance was relatively concentrated, hot metal output declined relatively noticeably, coupled with the recent relatively significant contraction in steel mill profits, the desire to bargain down prices was relatively strong. In the short term, the market supply and demand are in a weak situation on both sides, but steel mills have a strong desire to drive down prices. It is expected that local iron ore concentrate prices may experience a slight decline next week. [SMM Steel]