[Domestic Iron Ore Mine Brief Comment] Iron ore concentrate prices in the Liaodong region may consolidate on a subdued note

Prices in the domestic ore market in the Liaodong region showed no notable fluctuations. Trader inquiries were subdued, with bids mostly on the low side, but ore processors held back from selling, and most were reluctant to accept prices below psychological expectations. Both sides traded cautiously on an as-needed basis, with market shipments mostly consisting of earlier orders. Steel mills were largely incurring losses, and with a strong focus on cost control, raw material inventories were mostly kept at low levels. There was little room for growth in iron ore demand, which constrained upward movement in ore prices. However, ROM supply was insufficient, and beneficiation plants were rarely operating. High-quality spot cargo resources in the market remained tight, still providing support to the bottom of ore prices. Nevertheless, imported ore prices have shown a downward trend over the past two days, and local iron ore concentrate prices are expected to consolidate on a subdued note in the short term. [SMM Steel]