【Brief Review of Domestic Iron Ore Market】Iron ore concentrates prices in west Liaoning may be in the doldrums

In west Liaoning, iron ore concentrate prices have remained relatively stable, with ex-factory prices (66% grade, wet basis, tax excluded) ranging from 700 to 710 yuan/mt. Currently, the production level of mines and beneficiation plants remains low, leading to a tight supply of iron ore concentrates and providing some support to local ore prices. Steel mills are mainly purchasing as needed, with a continued strong desire to bargain down prices. The market is characterized by a clear game-playing mentality, and the overall trading atmosphere is sluggish. Recently, news of crude steel production cuts has emerged in the market, intensifying market pessimism. It is expected that in the short term, local iron ore concentrate prices will likely be in the doldrums. [SMM Steel]