SMM

Today, the domestic iron ore market in Tangshan remained generally stable, with the delivery-to-factory price, tax included, for Fe66% iron ore concentrates on a dry basis ranging from 1,015 to 1,020 yuan/mt. Currently, inventories at beneficiation plants and stockyards are at low levels, making raw material procurement difficult and costly, with many unwilling to sell at low prices. On the steel mill side, profits remain under pressure, and most are purchasing as needed, with a relatively strong overall desire to bargain down prices. The market is currently in a situation of weak supply and demand in the short term. In other news, the provincial environmental protection inspection team is scheduled to inspect the Chengde area soon, which may impact local production at mines and beneficiation plants. The tight supply of iron ore concentrates is likely to intensify, providing some support for local prices. Overall, it is expected that local iron ore concentrate prices will remain volatile in the short term.