[China Iron Ore Brief Review] Iron ore concentrates prices in Shandong may consolidate on a subdued note

This week in Shandong, the ex-mine price for 64% grade alkaline iron ore concentrates on a dry basis, pre-tax, and acceptance basis was reported at 823, up 5. Miners mostly maintained normal production; a few saw a slight buildup in inventory, while most enjoyed smooth shipments with virtually no inventory. Local resources flowed increasingly to Hebei, and small mills and traders sold at prevailing market prices. The local supply of iron ore concentrates was relatively tight, providing some support to local prices. Recently, iron ore futures consolidated, and local concentrate prices may be affected. It is estimated that in the short term, local iron ore prices may consolidate on a subdued note. [SMM Steel]