The domes c ore market in Tangshan has recently been in the doldrums, with the delivery-to-factory price of 66% grade dry basis ore inclusive of tax ranging from 920 to 930 yuan/mt. Recently, the two major local steel mills have had low intake volumes, and their just-in-me procurement opera ons have supported suppliers’ willingness to ship. Addi onally, local mine prices have risen, and prices of surrounding resources have remained firm due to ght supply. Producers face high costs, and the influx of low-grade resources from Chengde has been hindered, suppor ng the firm pricing stance of local producers. However, steel mills have generally been cau ous in their procurement, with a con nued strong desire to drive down prices. Coupled with the recent weak performance of the iron ore futures market, it is expected that the price of local iron ore concentrates will likely remain in the doldrums.

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Source: Metals Market Index (MMI)