[Domestic Iron Ore Brief Review] Iron Ore Concentrates Prices in West Liaoning May Fluctuate

Trading activity in west Liaoning remained subdued, with iron ore concentrate prices edging up by 10-20 yuan/mt. The current delivery-to-factory price, tax included, for 66% grade iron ore concentrates on a dry basis stood at 740-750 yuan/mt. Most traders adopted a wait-and-see approach, with only a few making small purchases at suitable prices. Mining and beneficiation plants maintained a strong reluctance to budge on prices, with the majority operating with relatively low inventory levels. Some beneficiation plants, constrained by relatively small capacity, opted to accumulate spot cargo and temporarily delay shipments. On the demand side, steel mills primarily purchased as needed, with pre-holiday restocking not being significant. The overall market was characterized by weak supply and demand. In the short term, local iron ore concentrate prices are expected to remain volatile. [SMM Steel]