SMM Daily Comment On Domestic Iron Ore Market (Sep 18)

SHANGHAI, Sep 18 (SMM) – The price of iron ore concentrate in Shandong mainstream mines increased by 34 yuan/mt and the price of 64%-grade alkali concentrates was 1,017 yuan/mt (tax-excluded, on a dry basis, ex-factory). Leading mines resumed normal production and resources began to be sold to other areas, but some local steel mills still found it difficult to obtain goods. Iron ore prices in the Zaozhuang area remained high, and traders’ purchasing sentiments were sluggish, so there were only a few orders. Taken together, raw material resources were still thin, and steel mills without maintenance had a rigid demand for concentrate. However, considering that the recent quotations of local beneficiation plants were close to annual highs and the trend of imported ore was relatively volatile, it is expected that local ore prices will fluctuate this week.