[China Iron Ore Brief] Iron ore concentrate prices in East Liaoning are likely to remain in the doldrums

The domestic ore market in eastern Liaoning is generally stable in many places, but local beneficiation plants' sentiment of holding back from selling and holding prices firm has strengthened. Many local mines remain shut, ROM supply is insufficient and prices stay high, restricting the operating pace of beneficiation plants. Spot supply of iron ore concentrates in the market remains tight with little room for improvement, still providing support for the bottom of ore prices. On the demand side, steel mills mostly purchase as needed, with a relatively strong desire to bargain down iron ore prices. Overall, sellers and buyers are still in a standoff. In summary, it is expected that local iron ore concentrate prices will likely remain in the doldrums in the short term. [SMM Steel]