[Domestic Iron Ore Brief Review] The Price of Iron Ore Concentrates in the Western Liaoning Region May Fluctuate Downward

SMM Daily Review on Domestic Iron Ore:
The domestic ore market in western Liaoning saw limited transactions, but local leading steel mills showed a strong desire to bargain down prices. The ex-factory price for 66-grade wet basis, excluding tax, was 690-700 yuan/mt. Traders maintained low offers in inquiries, while sellers, considering production costs, largely did not accept the low offers from traders. However, some sellers, due to cash flow considerations, showed a willingness to follow market trends. Overall, under the current steel mill profits, steel mills mainly adopt a purchasing-as-needed approach. Coupled with the recent downward fluctuation in iron ore futures, market confidence remains weak. It is expected that local iron ore concentrate prices will fluctuate downward in the short term. 【SMM Steel】