[Domestic Iron Ore Brief Review] West Liaoning Prices May Have Room for an Upward Trend

The domestic ore market in western Liaoning remained stable, with beneficiation plants maintaining high asking prices. The ex-factory price for 66-grade wet basis, excluding tax, was 710-720 yuan/mt. Beneficiation plants in the Chaoyang area have gradually resumed production. Although there is spot inventory available, the willingness to sell at low prices is weak, with most opting to temporarily observe the market, believing that under tight resource conditions, price suppression is unlikely. Local steel mills' blast furnaces are mostly operating normally, with certain restocking demand. Coupled with the recent strong performance of iron ore futures, this may drive up transaction prices for local iron ore concentrates. 【SMM Steel】