Domestic iron ore concentrate prices to stay weak in February, awaiting post-holiday recovery in hot metal output

China's domestic iron ore concentrate prices softened in January. Pre-holiday restocking ahead of the Chinese New Year offered some early support, but market sentiment turned cautious in the second half of the month as steel mills wound down their inventory builds, coupled with weakening fundamentals amid a recovery in production.

Meanwhile, traders cut offers to free up cash and reduce inventory exposure, adding further downward pressure on prices towards the end of the month. As of January 30, the Mysteel 66% Tangshan iron ore concentrate price dipped by 0.1% month-on-month to Yuan 979/tonne. In January, domestic iron ore concentrate supply