[Brief Review of Domestic Iron Ore] The Price of Iron Ore Concentrates in the Shandong Region May Still Have Some Room for Further Increase

In the Shandong region, the pre-tax, dry basis, acceptance price of 64-grade alkaline iron ore concentrates at mines and beneficiation plants was reported at 889 yuan/mt, up by 3 yuan/mt. Mines are gradually resuming production, steel mills have started restocking, and long-term contracts are gradually recovering. Mines have no inventory, while small plants and traders are resuming operations slowly, with most planning to gradually restart after the Lantern Festival. However, in the Linyi region, there is still no significant progress in the resumption of production at mines and beneficiation plants. Local iron ore concentrate resources remain tight, and transactions are moderate. Looking ahead to next week, the supply and demand fundamentals of imported ore are not expected to show significant imbalances. After steel mills start restocking, demand is expected to increase slightly, and the local market still has room for a slight upward movement next week. 【SMM Steel】