[Brief Review of Domestic Iron Ore] Supply Tightness in Western Liaoning Region, Prices May Fluctuate with a Stable and Weak Trend in the Near Term

The domestic ore market in western Liaoning overall exhibited a fluctuating trend. The ex-factory prices for 66-grade wet basis, excluding tax, were 710-720 yuan/mt. Local iron ore concentrate resources remained relatively tight, and the shortage of raw ore was a common phenomenon among mines and beneficiation plants. The volume of spot cargo in the market continued to decline, and sentiment among mines and beneficiation plants was cautious, leading to sluggish overall market transactions. Local steel mills primarily adopted a purchasing-as-needed approach, with a strong desire to bargain down prices. Considering the recent downward trend in iron ore futures, it is expected that local iron ore concentrate prices may fluctuate downward in the short term. 【SMM Steel】