[Domestic Iron Ore Brief] Prices of Iron Ore Concentrates in Western Liaoning May Oscillate with a Stable but Weak Trend

Domestic iron ore concentrates prices in western Liaoning slightly declined by 5-10 yuan, with 66 grade wet basis ex-factory prices excluding tax at 730-735 yuan/mt. Affected by the price reduction from the leading local steel mill, overall market transactions were relatively quiet. The Two Sessions are in session, and although explosives supply is normal, mines and beneficiation plants noted that safety inspections have intensified in recent days, with some mines shutting down for maintenance. Local iron ore concentrates resources are in a tight state, providing some support to local prices. On the macro front, there has been frequent speculation about crude steel production cuts, leading to a generally bearish sentiment in the market. Coupled with the significant decline in prices of imported iron ore and in the Tangshan region, it is expected that local iron ore concentrates prices may continue to edge down slightly. [SMM Steel]