The iron ore market remains weak with continued sluggish demand. Future demand from steel mills is expected to decrease, leading to a cautious stance from many miners and a continued supply-demand standoff in the market.
The environmental inspection by the Central Supervision Team in Yunnan is expected to conclude on the 9th. Recently, titanium ore prices have remained stable, with the downstream market weakening slightly. Titanium ore transactions are under pressure due to tight overall supply, with some miners maintaining firm prices.
The downstream demand is weak, miners’ costs are high, companies have no inventory, and the price of Pangang ore remains weak and stable. The market is mostly observing the trends of major factories next month. The bidding price for high titanium slag in May has slightly increased compared to April. This week, northern companies’ bidding for titanium slag shows that raw material costs remain high, and market sentiment is cautious.