[China Iron Ore Brief] Iron Ore Concentrates Prices in Shandong Region May Be in the Doldrums

This week, the mine-mouth price of 64-grade alkaline concentrates (dry basis, pre-tax, bank acceptance) in Shandong remained stable at 894. Miners mostly maintained normal production, with the majority of long-term contract shipments stable and essentially operating with zero inventory. A few steel enterprises saw inventory increase slightly, primarily purchasing as needed, and overall market transactions were moderate. Steel mills currently focused mainly on purchasing as needed, with both buyers and sellers being relatively cautious. Today, market rumors suggested that relevant negotiations had preliminarily reached an agreement, and iron ore futures weakened rapidly, which was expected to dampen market confidence in domestic iron ore prices. In the short term, local iron ore concentrates prices were likely to remain in the doldrums. [SMM Steel]