SMM

The Tangshan iron ore concentrates market showed a downward trend at the beginning of the week, with the delivery-to-factory price for 66-grade dry basis including tax at 940-950 yuan/mt. Recently, the futures market for iron ore has been fluctuating downward, and market confidence remains weak. Most traders have chosen to hold off on operations for now. Local iron ore concentrates resources remain tight, providing some support for local prices. However, considering that most steel mills are currently purchasing as needed, the overall desire to bargain down prices is relatively strong. The supply and demand in the current Tangshan iron ore concentrates market are both weak, and it is expected that local iron ore concentrates prices may fluctuate downward in the near term. [Domestic Ore Brief Review]