[Brief Review of Domestic Iron Ore] Iron Ore Concentrate Prices in Shandong Region May Fluctuate

This week, the leading mines in the Shandong region reported a pre-tax ex-mine price of 852 yuan/mt for 64-grade alkaline powder on a dry basis, down by 3 yuan/mt. Most mines operated normally, while steel mills gradually began pre-holiday restocking. Some mines reported instances of steel mills scrambling for supplies, with no inventory pressure. Steel mills mostly plan to slowly build up inventory, aiming to replenish stocks to about half a month's level before the holiday. Overall transactions were moderate throughout the week. This week, macro news remains relatively scarce, and overall market confidence remains weak. Local iron powder prices are expected to fluctuate in the short term. 【SMM Steel】