【Domestic Iron Ore Brief Review】Iron Ore Concentrates Prices in Western Liaoning May Slightly Rise

The market price of domestic ore in western Liaoning remained stable, with the ex-factory price of 66% grade wet basis excluding tax at 700-710 yuan/mt. Local ROM resources are scarce, and the production costs of beneficiation plants are relatively high. Producers with available stock, considering their own profits, maintain a strong sentiment to stand firm on quotes. Additionally, large mines have limited stock, with most directly supplying steel mills, leading to tight spot resources in the market. In-production beneficiation plants have low inventory and are not in a hurry to sell, providing support for their asking prices. However, as the Labour Day holiday approaches, steel mills are expected to restock, which may drive market transactions. Coupled with the weakening impact of external tariffs and expectations for the upcoming Politburo meeting in China, the iron ore futures market is showing an upward trend, which may boost the transaction price of local iron ore concentrates. [SMM Steel]