【Brief Review of Domestic Iron Ore Market】Iron Ore Concentrates Prices in Western Liaoning Region May Remain Stable

The market in western Liaoning is relatively stable, with ex-factory prices for 66% grade wet-basis iron ore concentrates (excluding tax) ranging from 700 to 710 yuan/mt. The region is once again facing municipal safety inspections, causing some mines and beneficiation plants to face production halts and rectification difficulties. The local supply of iron ore concentrates remains tight, and the overall sentiment to stand firm on quotes among mines and beneficiation plants remains strong. Restocking at steel mills before the Labour Day holiday was not significant, with purchasing as needed being the main approach. Overall market transactions have not shown significant improvement. The market is characterized by a clear mentality of game-playing, and it is expected that local iron ore concentrate prices will remain stable in the short term. [SMM Steel]