[Brief Review of Domestic Iron Ore] Prices of Iron Ore Concentrates in the Shandong Region May Fluctuate Stably with a Weak Trend

This week, the grade 64 alkaline iron ore concentrates (dry basis, excluding tax) in the Shandong region increased by 13 yuan, now at 902 yuan/mt. Most mining and beneficiation plants are operating normally, with supply returning to pre-holiday levels and no inventory accumulation. Steel mills are actively purchasing, with inventories generally maintained at 4-7 days. Long-term contract purchases remain relatively stable, and overall market transactions throughout the week were moderate. Some local iron ore resources have flowed to the Wu'an region in Hebei. Local steel mills still exhibit a strong desire to bargain down prices, considering that current steel mill profits remain under pressure. In the short term, local iron ore concentrate prices are expected to remain stable with a weak trend. [SMM Steel]