[Domestic Iron Ore Brief] Iron ore prices in the Liaodong region are likely to remain stable

The domestic ore market in eastern Liaoning remained largely stable, with traders making very few inquiries for cargo. Mining and beneficiation operations were running at low utilization rates, and holders were reluctant to sell below their psychological expectations. Supply and demand activity was cautious and need-based. End-use demand showed no significant improvement, and steel mills lacked the motivation to resume production or ramp up output. Iron ore demand remained weak with little room for improvement. Additionally, expectations of downward adjustments in mid-month settlements by leading steel enterprises exerted bearish pressure on market sentiment, constraining ore prices from rising. However, some steel mills faced notable capital pressure and mostly maintained purchases at original prices to secure raw material supply, which supported ore prices. Overall, local iron ore prices are expected to remain stable in the near term. [SMM Steel]