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

This week, the ex-mine price of 64-grade alkaline iron ore concentrates (dry basis, tax-included, acceptance) in the Shandong region was reported at 907 yuan, up by 5 yuan. Most mines and beneficiation plants in the area operated normally. Driven by the price increase by Minmetals, steel mills showed good purchasing enthusiasm, resulting in almost no inventory accumulation at mines. Currently, steel mills are still operating with low inventory levels, mostly around one week. Overall transactions for the week were moderate. In the Linyi area, some resources were shipped to Hebei, with relatively stable order execution. A mine in Zaozhuang is expected to resume production, while local producers are mainly observing the market. Regional activity is expected to improve after major mines resume production. Overall, it is anticipated that local iron ore concentrate prices will hover at highs before the Two Sessions. 【SMM Steel】