[Brief Review of Domestic Iron Ore] Iron ore concentrates in the western Liaoning region remain stable with a weak trend.

The domestic ore market in western Liaoning remained stable without significant fluctuations. Currently, the ex-factory price of Fe66% iron ore concentrates (wet basis, excluding tax) is 730-735 yuan/mt. The operating rate in the Beipiao and Chaoyang areas is relatively low, and the asking prices for premium-grade resources remain high. Some beneficiation plants holding spot inventory show very low willingness to sell at lower prices. Recently, some producers in the Tangshan area have been purchasing iron concentrates from the Chaoyang area, but overall resources in the region are tight, and the sentiment among mines and beneficiation plants remains cautious. With the Two Sessions approaching, local mines and beneficiation plants are expected to suspend production temporarily in the short term. Considering the recent volatile trends in iron ore futures, it is anticipated that local iron ore concentrate prices may exhibit a stable with a weak trend in the short term. 【SMM Steel】