[Brief Comment on Chinese Iron Ore] Prices at mines and beneficiation plants in Shandong may edge up slightly
In Shandong, mines and beneficiation plants quoted 64-grade alkaline concentrates at 755 on a dry basis, before tax, with acceptance payment, ex-mine, down 4. Steelmakers lowered prices accordingly. Most mines maintained normal production, but overall iron ore concentrate resources in the region remained tight. Recently, the cost-effectiveness of domestic ore has improved, and steelmakers have shown stronger purchasing interest. Miners held no inventory, and market transactions improved compared with the earlier period. Recently, iron ore futures strengthened, which may drive domestic iron ore prices higher.