SMM Daily Comment On Domestic Iron Ore Market (Sep 19)

SHANGHAI, Sep 19 (SMM) – Western Liaoning iron ore markets were relatively stable and the purchase price of a leading steel mill rose slightly by 10 yuan/mt. The prices of 66%-grade acidic concentrates were 800-810 yuan/mt (tax-excluded, on a wet basis, ex-factory). The bullish sentiment on local beneficiation plants was strong, and quotations remained firm under the condition of tight resources. Since traders set prices based on the needs of steel mills and their own profit margins were narrow, it was difficult for high-price ore to ship. It is expected that the market in western Liaoning will run steadily in the near future.